Yes, it is true that the GrandStand is designed with two mounting positions that offer two different drive tire stances. The products are assembled at the factory such that the narrower position is used for 48" models, and the wider position is used for 52" models. It is possible to utilize the narrower mounting position on 52" models to yield more deck overhang if desired. However, the drive tire stance of the 48" cannot get any narrower than its factory setting.
Despite what may appear to be a minimal amount of deck overhang, the geometry of the machine leads to trimming characteristics that are actually quite good. The unit could have been designed with more deck overhang (in fact early prototypes were), but the wider stance was found to be very beneficial during hillside operation. The position of the deck relative to the drive tire still allows for good trimming without sacrificing traction and stability.
Thanks - The Toro Company