That doesn't look too bad to me. I've yet to see a wire wheel without some degree of run out. But it depends on the skill of the wheel balancer and whether they have the right cone attachment. If you were in the UK I'd say take it to the factory for a check over. Is everything tight on the suspension?
I agree that balance can go in and out of phase - I've had that effect on the motorway in an MG where cornering would bring on and take off wobble.
