Capri, it seems you are quite right that most if not all original equipment wheels are designed to be hub centric. However it seems that many aftermarket wheels are designed to be lug centric, implying that in most applications either will suffice if designed and mounted properly, at least for most cars.
In the BMW world hub centricity is considered to be very important for original or aftermarket wheels, and my best guess as to the difference would be that BMWs use lug bolts whereas most others use studs and nuts. Just a guess, mind you. I would think that it would make little or any difference once torqued but I do hear that if you install non-hub-centric wheels on a BMW you are almost certain to have problems. No personal experience mind you.
I do not know how this would apply to Corvettes.
I found this little snippet on one of the wheel vendors' websites:
Hub-centricity
When automobile manufacturers design a vehicle, they utilize hub-centric wheels so that:
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The wheels are positioned very precisely on the car.
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The possibility of shifting while being mounted is minimized.
Lug-centricity
The alternative to a hub-centric wheel is known as lug-centric.
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The wheels are located solely by the lug nuts rather than
the wheel hub.
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As the lug nuts are tightened, they adjust the wheel's position relative to the hub, thus centering the wheel.
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Properly torqued, the lug nuts continue to keep the wheel centered as the vehicle is driven.
Lug-centric wheels require extra care in mounting on a vehicle. When using shouldered nuts instead of tapered nuts, take extra care to properly locate the wheel. Never use air tools to install high performance wheels! Always use a torque wrench and follow accepted tightening procedures
