5mm hub centric spacers are completely safe to use on the factory wheel studs, there's enough thread engagement to not worry. As far as cons, they cost money and you have to install them, that's about it. You're not going to wear the front hubs out with them, a sticky tire will put more wear on the hubs than a small spacer like that will.
Also important to note that a wheel with a greater offset will also cause "wear" to the hub just as a spacer would. Once it's bolted to the car, the forces are pretty much equal assuming it's a hub centric spacer. There are a lot of professional race teams that run with spacers for various purposes. When using quality parts, there is nothing to fear.
- Cory
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