a while back I jnstalled some after market wheels with no hub centric rings drove great no viberations, for a week. One day I am driving and as soon as I hit 55 it started to shake rattle and roll. Installed the hub rings and all was good.
I just got some style 19's (74mm hub the e34 has 72.5mm hubs) and new hub centric rings . My advice is if USE THEM !! they are cheep and will ,as attack eagle center the wheel.
You wouldn't think a thin litte ring would make a diffrence , but they do so to answer YES they are important