As a person with structural training, I believe I am qualified to say that either system will wiggle some. It is the tension which gives the most strength and then the shear capacity of the bolt.

I will modify my recommendation though. I would only do the bolt as a temporary measure until i could change the hub carrier.

__________________
[SIGPIC] Diesel loving autocrossing grandpa Architect. 08 Dodge 3/4 ton with Cummins & six speed; I have had about 35 benzes. I have a 39 Studebaker Coupe Express pickup in which I have had installed a 617 turbo and a five speed manual.[SIGPIC]

..I also have a 427 Cobra replica with an aluminum chassis.