Hi Roy,
First, its probably best to take what I say with a pinch of something strong - I am something of a pedantic when it comes to design and construction.. Really, the EW works with its inductors on the board, and EM's do, and Bob Moog only moved inductors close to the antenna on highe end theremins like the E-Vox and E-Pro (I know those have the EQ inductors off-board, and I think the 91 series does.. but whatever.. he thought the EW was acceptable - who am I to argue with Bob !?)
Its just that, to me, having some of the antenna inside the theremin (which is what the wire connecting to the antenna actually is) is wrong.
But I dont think it is critical, unless one makes the mistake of having a large ground plane or whatever close to the inductors.
If you are starting from scratch, I would advise you to locate the inductors off-board and close to the antenna/s, regardless of which theremin you were building.. But if you had, for example, a grounded back plate, and by moving the inductors they came close to this, then the board might be a better place.
Bottom line - keep the antenna wire and antenna inductors away from anything conductive as much as possible.
Fred.