OK: 7" and 37mm offset means 125.9mm or 4.96" of the wheel are inside the mounting surface. ((7in x 25.4mm/in) / 2) + 37mm = 125.9mm
Therefore: 7.5" and 35mm offset will mean 130.25mm or 5.13" of the wheel will be inside the mounting surface. ((7.5in x 25.4mm/in) / 2) + 35mm = 130.25mm
Do you have an additional 5mm clearance between the tire and strut tower? If not you'll need 5mm wheel spacers. Be sure of this - see my posts under, "Help! My Tires Self Destructed."
I am looking at adding 15mm spacers just to be sure.
Original E1 wheel: 6.5" and 40mm give 122.55mm
My Alba Blaze: 7.5" and 42mm give 137.25mm
137.25mm - 122.55mm = 14.7mm
15mm = .59" or between 9/16" and 5/8"
I'm hoping they don't stick out too far...

Martin