I've always done it Hondamans way, drive the brake side bearing in flush. Fit the spacer, drive the sprocket side bearing in along with it's inner bush until it bottoms out on the hub ring. Doing it the other way you can drive the brake side bearing in and dislodge the sprocket side if things don't line up, as it's recessed that could be difficult to spot. You try and fit the bearing retainer and find it sits proud. Doing it the first way I described, IF things don't line up you can easily see the brake side bearing sitting proud and you know something is wrong then.