Bent a quarter inch from a 2mph bump? That is not realistic unless that wheel was very badly rusted. They have to be stronger than that to prevent becoming bent from hitting everyday pot holes. Regardless, that is way too much run out. Balancing it that way will only make it feel smooth with no vibration when it is spinning at the one speed the balancer spins it at, and only when the tire tread is off the ground, as in being mounted on that balancer. Once that tread is in contact with the road surface, it is going to squirm back and forth and shake the car. If that wheel is on the front, you'll feel the shaking in the steering wheel too.
There was a service bulletin back in the '90s for big, heavy pickup trucks with a certain brand of aftermarket chrome wheels that could have been manufactured with excessive run-out. Any wheel with more that 0.045" lateral or radial run-out was to be replaced because they would cause an objectionable vibration. At a minimum, you're describing three times more lateral run out for a wheel on a small, lightweight vehicle than was allowed on a heavy truck. No amount of balancing is going to overcome that. I'd find a good, used wheel at a salvage yard, or, if your spare tire / wheel is the same full-size assembly, consider using that and using the bent wheel for the spare.
Wednesday, October 30th, 2019 AT 4:00 PM