Chainline Help for 93' GT Karakoram

Moondog

Retro Newbie
I've been building up this GT with similar parts to a few 90's mtb restorers - such as the Shimano Deore crank. I sent the bike in to my local shop on the weekend to install the chain and cables. The chain falls off the crank ring in first gear, and the chainline (FCL) is around 55mm. They're recommending a new crankset, but I'm hoping I might be able to salvage it by removing the 2.5mm BB spacer, and maybe spacing the crank ring 2.5 / 3mm or so? Has anyone had similar issues? From what I've read it should be okay if I get the FCL to around 49 / 50mm?

The crank ring is a cheap narrow-wide from eBay.
Rear derailleur is a Sram X-4.
Chain is a Shimano HG 8 speed.
Cassette is a Shimano HG 8 speed.

Any help much appreciated!
 

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