Hey Glenn and Bob, thanks for the replies!
I unfortunately bought the Consew csm1001 servo motor package, as you guys probably know every part is made as cheaply as possible, including the softest screws on the planet, the phillips heads strip if you look at them wrong. The positioner and round fitting that attaches to the balance wheel are now 99% plastic. The round fitting and the part of the positioner (with the set screws) that holds the fitting seems like it's made out of good nylon (possibly glass reinforced) and the tolerances are good...
The existing screw is still too short even though it now fits inside the round fitting. I'll be calling Toledo today for the 200006 screw and I'll be sure to pad the order with needles and thread and when this cheap motor dies, I'll be calling them for the Family Sew FS-550s motor...