Rick - regarding your strop. Double check the drive wheel as well. My strop had pretty bad wobble. I took it off the machine and found that the wheel itself was flat. I looked a little further and found that the wobble was coming from the drive wheel rather than the strop. I found that taking the drive wheel apart and reassembling everything fixed the problem for me. It looks like there's a little slop in the hole on the drive wheel and if it's not assembled just right it can cause some wobble.

I don't know if this is the same problem you are having, but it might be worth taking a look.

Good luck!