Just R&R'd the front wheel on my '96.
The spacer on the disk side has a flange on both ends.
Whereas the other side only has one.
The pads 'appear' to be rubbing all the time. This is normal as the pads do not pull back very far. But if they are actually dragging (lift the front wheel and spin) that is not normal.
I don't think you can wrench the axle nut to tight.
The caliper does 'float' to match the location of the disk. There are 2 rubber covered posts on the caliper that allow it to shift.
Happy wrenching