Chainline calculation
You're taking the right approach, although 2(34+22)=112. Measuring half of the spindle as you did is fine as long as you're 100% confident it's a symmetrical spindle. In practice it's something I might do with the knowledge I have to double check later and fix things if by chance they didn't work out.

Even if Sheldon's 4.5mm number is right on, this would give you 45mm front chainline, which would work despite not being ideal. Personally I don't know if it's just 4.5mm cut and dry like that in all cases. But it's probably worth a try.