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Spacers completely unnecessary with the hub-centric wheels...I've sold hundreds of 97-03 OEM F150 wheels & caps on eBay over the past five years (and had wheels from a 14mm 03 on my 12mm 00 for the past four years)...there is negligible difference in the drilled hole diameters in all but one style (16" polished alloy), in fact on two of the most popular styles that crossed year 2000 there is no difference at all...duggyb's issue occurred due to improperly torqued/loose lug nuts, and the bolts holes would runout regardless...really the only issue with fitment of 14mm wheelsets on 12mm lug studs is the center caps, as some of the fixed-clip styles will not grab the smaller lug nuts, however the clips on the dog dish style caps (17" alloy/17" chromeclad) can be squeezed/bent in to fit with no problem.
Never use a tapered-seat lug nut on the OEM wheels.