Take a look at the RKR
http://images.rotawheelsuk.com/rarer...5steelgrey.jpg
17x9.5 ET-10 5x114
But to help with your question - spacers or low offset wheels have the same net effect. The advantage of the spacers would is that you can buy wheels which might be easier to re-sell should you change your mind or decide to sell up.
The advantage of no spacers and mad wheels is that they're really cool, and you'll get many scene points... but on a more serious note you can also get your exact fitment and have less potential points of failure or problems, with just 1 set of studs and nuts holding things on.
20mm bolt on spacers usually are considered about the smallest that are sensible, any thinner and there's not much meat to hold the studs in. If you're going longer studs and slip on spacers then you can disregard that