OK, here we go. After a day of research, shopping, and websites, I think I have it figured out. There are two issues.
1) When I went to my local parts place, their computer actually listed the tapered bearing conversion for the Midget (!!) and showed the inner bearing as part number... 30205. Shock me. *BUT*... the notes said:
"Machine down 1/8". Replace 1/8" washer with 1/16" washer."
So, after some head-scratching, this is how I figure it. The roller bearing is, as suspected, thicker side-to-side than the BB. ID and OD are the same. As far as I can tell, ALL 30205 bearings have the same dimensions, as far as all the manufacturers' websites are concerned. See for example
the SKF site - the second-last entry is 30205. There's only one, it's the same ID and OD as all the other 30205s I've found.
My educated guess would be that the X is a special order designation and that Moss, for example, would order a large batch of 30205 bearings with a pre-machined outer race, that might then be labeled 30205X.
So yes, as far as I can see, the OUTER race of the inner bearing needs 1/8" machined off its outboard (flat) surface before it is pressed into the hub, which will move the disk 1/8" inboard. (Obviously, the 1/8 would have to come off the outboard side of the race, since taking it off the inboard side would simply reduce the bearing seating area, without moving anything one way or the other.)
As to the washer, I'll assume that they're talking about the outer retaining tab washer? Or did earlier assemblies have an inner washer of some sort?
2) As to whether the bearing, when pushed on, is flush with the back surface of the hub. This has nothing to do with the I.D. of the bearing - ALL 30205 bearings have the same ID, as far as all the manufacturers' websites are concerned. The last inch of the hub itself is not tapered, so if it fits, it fits (so to speak). BUT, the point at which the axle meets the hub is radiused. And the three 30205 bearings I've seen today all have slightly different radii on their inner bearing corners. All have been almost square, which means that rather than seating all the way back with their rear face against the flat surface of the hub, they hang up just shy of it. I don't want to grind down the radius on the hub, since it's structural. So I may try clearancing the corner of the inner bearing race, to confirm my theory.
So that's it. I don't have a lathe, I'm considering trying to machine down a race in my drill press... what the heck, it's $20 if I have to get a new one.
That said, if someone can find me a link to a stock narrow 30205 bearing, I'll be thrilled. But I've tried Timkin, NTN, SKF, TRW, FAG, Federal Mogul... Yes, they all use prefixes or suffixes to show the manufacturer, but all the ones I've found so far are dimensionally identical. As I say, X must be special-order, for quantity orders of pre-milled outer races.