Balancer shifted. now what?

Pulled the #1 Spark plug and found TDC, marked it and set my timing. All is well. The outer ring of the balancer had shifted 20 deg or so. Other than the PIA of timing the engine is there any harm done? Is it likely to fail completely and come off? I am sure I will replace it eventually, but should it be a priority? Thanks.

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I would replace it... it affects the balance on the engine. I had one so loose onetime that it would vibrate horribly one time started, and not the next. Not to mention that if it does come off, it can do a tremendous amount of damage. It might only be tight because it is the colder months right now.
 
Yes, you need to replace it asap. Can you imagine the damage if it comes off while driving about 70 down the highway?

You don't need an SFI rated balancer, but I'd buy new and not used. Make sure you get a balancer for 28oz imbalance and not 50oz (late model). Not sure, but I think you can get them with either 3 or 4 bolt holes for the pulley.
 
REPLACE IT NOW!

I've seen the carnage first hand, NOT pretty.

I'm sure I've seen stock replacement units for a reasonable cost through summit.

Good luck, and thanks for rubbing it in about your locale, not only do us northerners have to put up with cold weather, but salt too! You guys make me sick! Someday I'll be able to move to someplace I can have a 60's mustang as a daily driver and not worry about salt!
 
If it is dried out enough to actually slip, it need to be replaced. Just think, the crank pulley will keep the ring from falling off the front. That only leaves going toward the timing cover and the counterweight on the damper hub. Might even bend the crank if that iron ring starts swinging like a hula-hoop.

Wierd thing is its actually been in the mid '60s here and freezing at night(about 3 hours from Mexico, 6 if you go through Orange County).