I would not trust an aluminum spacer, way to soft. Over time, the studs can come loose. Have to check torque frequently. I ordered the Bora wheel spacers 1.25" made out of solid steel. Pricy but way stronger. 4 weeks wait for them, they are made to order.
I know this is a super old thread, but people still read them from information. I fully get people wanting nothing to do with spacers. But a company like Bora that makes both aluminum and steel, still recommend aluminum for 90% of applications. The steel adds several pounds of unsprung weight. And let's keep in mind, our wheels are made from aluminum, and have been for decades now. You never hear anyone saying "I run steel wheels. Aluminum is just too soft". If you get hub centric, use medium thread locker, torque to spec, and check when you do a rotation, you should never see a problem with quality USA made 6061 aluminum spacers. Think of it as adding on to your aluminum wheel, not adding on to your steel hub. If aluminum is strong enough for wheels, it's strong enough for spacers. Also, there little to no difference in adding 1.5" spacer, verses adding -38mm more offset in a wheel. (+24mm wheel and 1.5" spacer= a -14mm offset) Nobody ever says a -14mm wheel adds a ton of stress on suspension. (I think most modern Ram factory wheels are +18mm offset. So an 1.5" spacer would be like a -20mm offset wheel)
Most horror stories about spacers were from cheap made, low quality, or non hub centric, or improper installation. A non hub centric spacer or wheel, puts all directional stress on the lugs. Having the wheel or spacer seated on the hub, and then lugs only having rotational presser, is as good as it gets. A hub centric steel spacer, still has the same rotational pressure on the lugs.
If an aluminum wheel can handle the stress, even with all the cutouts and pockets between the lug holes, then a spacer that has about 3/4" of solid aluminum on either side of the lugs is just as strong.
Buy quality USA made spacers. BORA, Wheel Adapters USA, or other brands made here, with lifetime warranty, and with years of experience, and hundreds of thousands of sets sold, and install correctly, you should have no problems. (I still wouldn't want weird stuff like 3" spacers with -24mm wheels! That's definitely too much leverage on your bearings and suspension parts)