Don’t mind me. I covered those snap rings when I didn’t need to.
The bit of wobble is fine. These tools are made to give a bit. It’s not noticeable when you get going. You just learn to keep the wood centered and your eye on the ball as you clamp those handles together. And these tools are made to be calibrated from time to time. I calibrate my 450$ tool a few times or three every grafting season, sometimes more.
Keep some WD-40 on it and dismiss my wild tape adventure. Notch that top out however . . . and you’ll be good to go.