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Jeff,
Yes, you will need to bend that arm, way to close for comfort and will rub at some point.
regarding the calipers, it is just a lot of trial and error getting them ground down to the right size one the tips. I would suggest making sure that you spin the wheels fast after you think that you have the right amount of material removed, as you may notice a difference and some more contact with the wheel moving more quickly after you have done it slowly. Remember to look on the inside of the wheel for rubbing, in addition to one the caliper. Some paint or marker one the tips will help notice small areas of concern.
jim
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