Personally, I would only use a rag joint if I had absolutely, positively NO other option.
Always seemed a like a great way to destroy a whole bunch of spokes.
I am currently waiting for the 'Modus' hub adapter for my Raleigh C40, which has a 1 1/8" freewheel hub, if that doesn't fit, I'll use the rag joint until I can buy a rear wheel - or hub - that matches one of my adapters.