There are warded keys so finely made that though the key nowhere binds, yet a cigarette paper will not fit between the key’s ward cuts and the lock’s wards - this is not one of them!
It’s a pipe key, so the drill pin keeps the key upright; the key enters the lock till the longest part of the nose or shank touches the backplate. That it appears uneven is perhaps not wear; this looks like a poor casting.
