Spacer versus nuts or washers
There's no way I would go without a full plate spacer. Personal gut feel, when I imagine the bending stresses involved... and I've never heard of a competition car which needs an adapter (racers mix and match stuff all the time) using just nuts or washers.
Alignment
Caster means nothing to a wheel which doesn't steer.
Camber is usually positive (top out) just so it doesn't go negative under load (more stable when positive, more responsive when negative, performance cars are always negative, street vehicles often positive)
Toe should almost never be toe-out, for stability and wear. I agree that toe-in with a trailer - if deliberate - is probably there so that drag and braking force doesn't cause toe-out
Hub Fit
While cars and modern trucks generally locate the wheel with the centre hole fitting nicely to the hub (the hub-centred or hub-centric design), trailer axles normally just depend on the studs/bolts - they are bolt-centric, and have clearance between the centre hole and the hub. The hub usually doesn't even have a nicely machined area to fit a wheel's centre hole (which is probably why they're bolt-centric - it's cheaper)
Studs versus Bolts
Studs are used to make the vehicle easier to work on and tolerant of more wheel changes (no threads in the hub getting messed up); wheel bolts are cheaper. VW Rabbits have bolts... enough said. Dexter offers their hubs both ways, and also offers conversion studs to screw into the tapped holes of a hub which was built for use with bolts. Get long ones and convert from bolts to studs while providing enough stud length for the adapters at the same time.