It's the tacho' for sure. I've seen it many times from a variety of manufacturers.
What you describe is the result of some contact between the rotating magnet assembly, and the drag cup, (which the pointer is attached to).
It is usually due to wear, but can also be from some foreign matter (metallic swarf or some grease/oil) has got to where it shouldn't be.
It can also occur when the magnet assy' shifts a bit on the shaft which can happen on the VDO style tacho's. Generally though, the calibration would alter a bit, which you mention is still okay.
Check the endplay in that main shaft. The bit that sticks out the end that you can spin. Should only be a few thou or so.
Also when you do your lathe speed test, try tilting the tach for and aft. This may help reproduce the fault on the bench.
I think many repair shops these days will suggest replacement, but some of the new stuff is junk. A lot of the old Stewart Warner, and AC tacho's are still out there, some with many thousands of hours that have never been opened up. They made 'em better back then.
Hope this helps.
Paul.
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RV-8 FB, S l o w Build,
180FI, Catto,
Australia.
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