does anyone have any pictures of what the stock rays look like with the 25mm spacers installed? A front to rear photo or rear to front so I can see the tire in comparison to the fender.

Aviator is correct. I have the Z1 20mm all around, studded, and noticed those indentation on both my front and rear wheels when I changed tires. Besides those marks, no other issues whatsoever, absolutely no vibration at any type of driving I do. Good prep and careful installation is key to avoid vibration some ppl experienced with spacers, IMO. I have been driven with these spacers for 10K+ miles. Hoping some day to switch out to proper offset wheels so I can lose the spacers. They're really heavy!

I changed over from winter to summer wheels\tires and noticed the same thing. I use stock 18s for my winter tires and didn't have any marks on the back on them, but on my stock 19s, I have the same marks as pictured. This is with 20mm bolt on spacers on the front. Rear is 25mm bolt on and there isn't any issue. I plan to cut the stock studs.

The issue picture doesn't impact everyone. There are variances in the stock rims. Some fitments will require filing down of the stock studs to accommodate the 20 MM spacers while others can fit them with no problem.

If you can fit it with no issues, great, otherwise I personally wouldn't want to file down my OEM parts for spacers. Thats just me. I have DRM 20 MM spacers on all for corners and they went on without modification. I am taking them off as I am going with rims with proper offset now.