Just want be very clear in a question, did you measure the balancer bore depth (or thickness) (I think that is your 1.50 measurement) and does someone have a stock Ford balancer to do the same?
Sorta looks like the balancer is thicker in the center, I have never seen one hang over 1/2 inch like that
Also, is the amount "left over" the same dimension as the pulleys are off?
Last question, do the timing marks like up at TDC? Just wondering if this is the wrong balancer altogether