Is it a radial (rotating) or axial (sideways, like bent wheel) runout issue ?
Radial should ideally be .062 max but I can't feel that amount.
Axial, I don't have a dimension but it should be found on Google; 1/8" seems too much for me.
You'll feel it on the front, not so much on the rear.
Re-mounting the tire may result in needing less balance weight; been there, done that.
There used to be wheelsmiths around the US but I haven't looked for one in years; check Hemmings in "services offered".