Problem with this is, to change the studs you need to take the drive flange out of the bearings, to do this you need a press, and when pressing the flange out more often than not the bearing breaks up so needs replacing (these have magnets inside the seals on the bearings for the ABS) and must be fitted the right way round or the ABS doesn't pick up the wheel speed signals. Rears are easier as just need the drums taking off.

Spacers that wide will feck up the steering geometry and give poor location to centralise the wheels on the hub, if not hub-centric spacers. - ebay link hubcentrics - http://www.ebay.co.uk/itm/Ford-Hubce...item4604406659

drive flange -

edit - I'm pretty sure the studs won't come out without taking off the hub and removing the flange, but by all means have a go before raking it all off!!