Pulley and belt alignment problems?

I'm wrapping up the rebuild on my 82 slant D-150. It's the same block, same power steering pump, same bolts, same everything. But the pulley on the PS pump doesn't line up well with the crank pulley. I know the crank pulley was fully seated when installed. I just double checked it, verifying it lines up perfectly with the alternator and fan pulleys.

Using a straightedge to check the pulleys, and pulling the PS pump as far forwards as I can, there is still about 1/8"-3/16" or so of misalignment between the pulleys. Here are pics measured at the top and bottom of the PS pulley.

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A visual check of the pulley has some indication that it may have been this way originally. I don't know for sure as I didn't notice anything odd when pulling the motor for the rebuild. The radiator side of the PS pulley groove is polished down a little over halfway to the bottom of the center groove. The rear side of the pulley is only polished for about a quarter of the distance to the bottom of the groove.

Is this a big deal or not? If it isn't likely to cause a problem I'm inclined to run it as is. If it needs to be fixed the only way I see to do so would be to remove material from the rear of the mounting holes, effectively letting the whole unit move closer to the radiator.

What say you, experienced mechanics of the world?