I have returned from an ice-entombed Portland existence and have modeled a 110mm 1 1/8" threadless stem with a 31.8mm clamp (for the handlebars). Thankfully didn't take too long and it really helps future efforts. For this bike, I made an "Innicycle-enough" headset by simply changing the top cup to a more circular profile, while adding the 1 1/8" shaft. I placed the bars at the same just-under-2" saddle-to-brake-hood drop as before and this is the result. It's good to do this "for free" and see how it looks. The stem is -7° but there is considerable gap between top of HS and bottom of stem. A 67cm would help close this gap considerably. Modern, sloping top tube frames/bikes get away with the spacer look thanks to precedent, headset "top cap" being very conical, and aesthetic continuity between the sloping top tube and the sloping stem (often at same/similar angles). And as so often is the case, the threadless stem to a 31.8mm bar, with slender standard diameter steel tubing, makes the bike look a little front/top heavy (well, with the stem at that height for sure).
Anyway, take a look at it. It doesn't look bad, but I'm not sure it's the look I'd like to go for. Keep in mind, I still must find a stem for this that will work with a slightly steeper than 73° HT angle.