Replace it ASAP! The outer ring has debonded from the rest of the assembly, and can come off at any time the crankshaft is spinning. The driver of a car that drops something on the highway is legally responsible for damage occurring to cars behind him, as a friend found out when his balencer dropped off, bounced onto the hood of a Porsche and broke its windshield... can you believe $1000 damage? FYI: late model 351W balencers are 3-bolt while your 351C is 4-bolt, so your crank pulley won't fit without redrilling. SVO sells a replacement balencer, and Damper Dudes in Redding CA sells rebuilt ones for $80 or so. Good luck- J DeRyke