Can we talk about "center bore" for a minute?

When laboring over wheel choices, it seems like most of us spend our time hunting down wheels that have the right diameter/width/backspace that we need. We're also often looking for wheels that light enough...and meet some kind of price criteria. This is a tough enough combination to find but then we throw center bore into the mix and it becomes a bit more complex.

For example, swapping on SN95 (1994-2004) Mustang wheels (and maybe still is) a popular mod. In particular, the 2001-2004 "Bullitt" style wheels are a common and nice looking wheel that folks have used with good results. With the right tires and maybe a spacer, these wheels can be made to work. What's not immediately obvious is that the center bore isn't big enough...and using these wheels requires a trip to a machine shop before they'll fit.

How often do you guys run into the problem with center bore fitment?
How do you know if a wheel with too small of a center bore can be safely machined without significantly compromising the structure of the wheel?

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That's what happens when you go putting mongrel (Ford) parts on a Mopar!