The water pump pulley on my 1960 high horsepower engine is not lining up exactly with the crank pulley - it's about 1/16 to 1/8 inch forward of the crank pulley. See the posted photos. It was off previously and discovered that I was missing the spacer behind the harmonic balancer. So I bought one; pulled the balancer and replaced it with the spacer behind and it's still off somewhat. I have the correct harmonic balancer pulley; the correct water pump pulley and have installed the spacer behind the water pump pulley. Should I be concerned with this slight offset? The only fix I know of is to pull the water pump and take it to a machine shop to have the fan mounting flange pressed on another 1/8". Any advice or recommendations?

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