I've got this crankset on 2 bikes, one with BSA68 and one with BB86, both used with ZRACE BB's. You are correct that there is no preload adjustment. If I remember right, there's a wave washer to take up the slop, which buys you just a tiny bit of room for error. I couldn't find info on which size spacers were needed where, so I installed the crank with no spacers and centered the cranks, then measured the gaps. The gap was a nominal value which matched what was included in the ZRACE BB, and when torqued up with spacers there was no slop, but also no excessive drag. So it worked out in my case, but I could also see that if there's manufacturing tolerances in the BB shell that there could be issues.