I bought a Comet some years ago and it was un-ride able. First it had a 21 in front WM2 with a 4:10 21 on it. It had Norton handle bars about 4 in wider that Vincent ones just so you could turn it, but the worst was the rear tyre. A WM2 19 with an appropriate tyre, but as one approached about 50 mph the whole rear wheel bounced so hard it left the ground. First I asked the seller about the front tyre and was informed that 20 in tyres were impossible to get so hence the 21, and when asked about run out when lacing the rims was told that anything close to 1/8 inch was acceptable.
I laced a 20 on the front and trued it to less than 15 thou both ways, installed a 20 tyre and cut 2 inched off each end of the bars, and then tackled the rear. It was well out of round and having corrected that, set it on the bench, for it to immediately roll off down the bench. After several tests it was obvious that the wheel itself was well out of balance (an original Dunlop). Never the less I fitted the tyre back on and set up to balance it. Several spokes of solder later all was well and when returned to that machine it all rolled down the road very smoothly and I could even turn the front wheel.
I could have left out the whole story and just quoted Dan Smith who says about every component on a motorcycle.....If it rotates, balance it.