If GEN2 wheels fit on a GEN1, they should reverse.
No, this is not true.
Remember that later ('99-'02) Gen II's have 18" wheels, not the 17" wheels present on '92-'98 cars.
Gen I three-spokes will indeed fit on Vipers up until the 2001 model year with ABS. I'm told that, as of 2001, there is an interference between a 17" wheel and a bolt head - I don't recall at the moment whether it was on the front or rear.
And, in fact, this was a small reason why I opted for my '00 non-ABS car when I replaced my Gen I (that and it was a few k cheaper); I already had a set of racing tires on 17" wheels. In addition, the selection for track tires in the 18" size used to be significantly less (haven't looked lately), as well as 18" tires being more expensive than 17" tires
.