I'm going to test the theory next week by marking the shaft and seeing if the 'high spot' times itself opposite of the key. She's still in the water, kinda hoping I can live with the wobble until she comes out again some time in October
good idea. Whoever pulled the shaft should have checked that the strut is lined up correctly. I had this issue on my boat when we repowered. After 3 months on the hard and major weight changes inside the struts weren't lined up. We had to plug all holes, draw some reference lines, put the boat in the water over a week end then haul and block again to make sure the hull was back in shape. We still had to move one of the strut.
Get yourself an inexpensive dial indicator so you can do this and get an actual measurement. You can get a complete kit with magnetic base on Amazon for under $40
Post #49: "A new key was made for the coupler bore." You may be able to see a gap between the coupler and shaft on the side where the key is. If the shaft is clean and unblemished, so the seal rotor can be moved on the shaft, a lot can be done without hauling out.
Usually not much iron for a magnetic dial base to mount on in a bilge. I use a heavy scrap iron plate sitting in the bilge. Also had a metal tab welded on a large welders vice grip.