Once more a good chance it's the curse of the almost fits but not quite repro pattern part. Looks like it will have to come apart and be checked against the original, if you still have it. If the seller says "They're all like that" then its decision time, whether to get another, attempt to get it to fit or give it up as a bad job. The brushes should not go past the end of the commutator segments, they don't make L Shaped brushes. Like Groily says, a new armature should run straight and true, with no movement up and down of the brushes.
That bearing carrier looks nice and new, any error here with greater thickness of the casting and the brush mounting insulation compared to original parts will move the brushes and bearing further from the captive drive end bearing position.
When replacing field coils, the Lucas Manual always showed what looked like a scissor jack used to press the pole piece against the dynamo body before tightening the countersunk mounting bolts. Any air gap between pole piece and body will affect the strength of the magnetic field within the dynamo body, and hence available power output.
Swarfy.