Thanks everybody for your replies. In reverse order:
Mark, I'll check the spacer tonight. I'm almost positive the back wheel setup is the same in the K and G, but if you could confirm the part number of your spacers I could check with mine whether they are the same or not.
Hoodellyhoo, thanks for the kind words. It was indeed a painstaking restoration. The chain snapped, I learn my lessons -not to cut corners anymore when it comes to engine parts- and after being busy with my other bikes, it is its turn to put it on the road again, this time for good. I have even bought replica exhaust, shiny chrome. It is going to be a concours winner!
No new pics of the bike, the latest I post where just some weeks before the camchain snapped.
Terry, did you really get yourself a RocketIII? Man, that bike is impressive, but I doubt you can drag your knee with it on the twisties -guess there are not many over there- haha. That laser idea is a good one. I seem to recall the back wheel was a little off-center with the fender, but I put the blame on the fender itself having bought it used. Maybe I'm just "selling the bear's fur before hunting it" and the spacers are in the right place after all, but I have a feeling they could be the reason for the wobble. You won't imagine how violent that wobble was, at just 70 mph, and the stem bearings were freshly greased, tight, and the wheel spokes were tight in both wheels. Well, we'll see.
And Bill, thanks for chiming in, I know I could have counted on you had you have a CB -not that the GPZ is a bad bike :-)