I wouldn't trust my life with these things either. Granted as far as "spacers" go they are better than the ones that are merely a ring that sit on the hub as they actually bolt in place, but to convert the lug pattern, no thanks.
If your doing 5 lug set ups for $175 your getting good deals. I personally spent a lot more than that for mine, but also did rear discs, SN95 stuff etc... My pick and pull wanted $75 EACH for ranger axles and only had one when I was shopping. Had to drop $90 on Ebay for them. I got the front stuff all together for about $200-250 but you need to get small misc parts for the brake lines. Then factor in the Master Cyl and Booster for the rear discs etc.. You can do the Ranger drum/Mark VII rotor set up, but I see no point other than asthetics.