It's more of an issue with later model stuff that have large diameter wheels and low profile tires.

A tall sidewall tire will absorb some of any potential out of round (not centered) vibration.

Back in the 80's I ran a custom wheel and tire store.
The only hub-centric wheel issues (vibration) that we ever saw were on ultra low profile tire and wheel combos on the more exotic type cars (Porsche 928 S4, etc).

The hub centering rings are a good way to help eliminate the possibilities of vibrations.