That first set up is very dangerous.........no hubcentric mounting of the wheels means his nuts/bolts are taking the full weight of the car/stresses and will lead to shearing
Had this discussion over on TRO and I have to agree.
I did some paint drawings to illustrate the point.
Completely made up figures and units Nmm but the maths is still the same.
I also didn't get into to loads on this one being shared over the two studs, which would be less per stud in this example but even ignoring that it still shows that the loads per stud are no greater than on an OEM setup.