Hi Andrew
I think I can visualise what you are saying, as I guess you have the centrifugal bob weight set up for a classic British twin. The first thing I would suggest is that the bike is going to run a lot better if you fitted an electronic ignition like a Pazon or Boyer. However, if you want to keep things as they are and not spend too much then I understand you are looking for a simple fix.
I am going to be more simplistic than the previous contributor's good engineering suggestions. The bob weights are always very sloppy on the pins, and tend to go from full retard to full advance in a sudden jump anyway. Precise engineering is not essential. Why don't you fix a solid bush made from bronze or even cast iron into the bob weight hole with loctite. You could custom shape the insert by hand filing to match any worn hole shape. The loctite will fill gaps if you make the shaped insert a press fit in. Then drill a hole, in the right place, that just fits over the existing worn pin. You could dress the pin by hand if it is very mis-shapen or tapered. Use a long, thin strip of emery to work it round and smooth. Hopefully it will still be big enough to do its job of holding onto the bob weight.
Maybe nearer to bodge-engineering than precision but it is always possible to over-engineer a repair job.
Norm
Edited By norm norton on 08/01/2020 10:12:04