If both the oilpump rod and dizzy are straight and tight then the wobble has to come from the alignment or coupling between the two. As I said in my post above, when this happened to me my dizzy was straight and so was my oil rod but the coupling was machined wrong so the entire thing wobbled like a hula dancer. Mine was so bad that the car was undrivable as the dizzy would "pop" off of the oil rod with any RPM above idle. If it were me I would pull the oil pump rod and confirm that it couples nicely to the dizzy on the bench. I would also check the inside of the timing cover and dizzy mount for any wear that would cause misalignment. If there is no wear now there soon will be with the dizzy moving around.

Edited August 31, 201113 yr by steve91tt

It does look like a hula dancer

Yep. Sounds like time to replace the dizzy.

Well im not going to change freshly updated dizzy. I'll be contacting the specialist who made the upgrade, maybe he has some idea.

There is not much to a distributor:

In the picture below, Part #12 (Shaft) turns inside part #13 (Housing).

The housing has a bushing that keeps the shaft in place.

Your problem is either a bent shaft or a worn bushing.

Shaft

Housing showing bushing

Edited September 2, 201113 yr by Blue

I disagree with the bushing being the problem, unless it's locked on the shaft and spun in the housing. Even then, the housing would get so hot that it would come apart in short order.

I would also recommend that you take the part to someone else to have it looked at by fresh eyes. Your expert doesn't sound so hot to me.

You do know what an expert is, right? EX-SPERT; An EX is a has-been and a SPERT is a drip under pressure.

I'm with Steve, first thing I'd check is the coupling (18 in drawing) as that is what actually mates the distributor shaft to the spindle.