+1 on the Herbert IIC setup. I've been running it since day 1 with this car and it works great in 13.5 blinky. I kept the 2mm upper arm spacing, I tend to run a slightly softer front tire and a little more camber though so I think it makes up for it.
I had a 12r5.1 with the speed merchant conversion before the 5.2. With the sm tubes I always ran green lube but found that with the bigger tubes on the 5.2 I had to step up to red.