Even if the fan motor, bearings, shaft, indoor blower and outdoor fan are all "in balance" the assembly's probably on rubber mounts to quiet it still further. When you say "wobble" is it just the shaft OF the motor or the motor itself? They don't wear bearings out, as much as bearings go dry or get contaminated. If it has knocked out a bearing, I'd guess some deposit (like bug nests) or damage (like bad fan hub or lost fan blade) has caused it.
The compressor is also on rubber mounts and the compressor in our old Coleman got out of one of them. I got it back and figured the repair wouldn't last but we never had the problem again.
Yes, if motor shaft is loose where it enters the motor bearings, you probably need a motor. We had one get "sticky." No matter how I cleaned and lubed it, the thing'd stick after running a few hours. There IS a thread here where somebody replaced the sleeve bearings these motors come with, with ball bearings. That really sounds good, but sleeve bearings (simple bushings) are inherently quieter than ball bearings. So the manufacturers get Quieter AND Cheaper all at once. I ended up replacing ours, cost around $100, no labor charge since I do all this stuff myself.
What's Make/Model of this A/C? can you post a picture of the label on the motor?
If God's Your Co-Pilot Move Over, jd
2003 Jayco Escapade 31A on 2002 Ford E450 V10 4R100 218" WB