Yes, I've done it lots...with Bullseye hub, Nuke Proof hub, Ringle hub, Sampson hub and Suntour hub. It will fit fine.
I rode those wheels for years without issue and the Ringle and Sampson are still in the stable but haven't been used regularly for years.
FYI, Sachs freewheels come in different cog spacings. Floating derailleur pullies usually make up for this but I had a friend that never could get his shifting acceptable using a Campy spaced freewheel with XT shifters.
So, you've never experienced a busted axle like some of the other posters have done higher up in the thread?
Rossin Concept MTB 1990 - Full XTR M900
Litespeed Ocoee Titanium MTB 1992 - Grafton / Bullseye / Syncros / XTR
LeMond Z Team Issue SLX 1991 - Full Corsa Record / Sigma
LeMond GAN Team Issue GLX 1993 - Full Dura Ace (7400)