I believe you're correct on the "oversized pin hole". When I removed the pin that holds the hammer and hammer strut together, it came out without any resistance. I was very surprised because I read in other posts how hard that pin is to remove, but mine just slide in and out, no tool (Roll Pin Punch) required.
The P series hammer strug pins are not very tight. Mine have all been just snug, not tight like the 75 and 97 guns. May have something to do with whether the strut pin is captured for the entire stroke of the hammer or not. Don't believe it is in the earlier guns, so a pin that moves would jam the gun.
It would have to be loose fit on the hammer pivot pin that the hammer rotates on that would allow the wobble we are seeing, plus the hammer being too narrow.
Joe
I'd like to add my bit of experience with this as to hopefully help out any future owners. I had very slight rubbing on the left side of the hammer from the factory. I ended having to sand the polymer around the hammer VERY slightly and had a decent double action pull (Well after the CGW parts).
A few weeks ago I had serious binding and while the hammer was pulled down for single action it would sometimes "stick", resulting in a dead trigger. Turned out to be the hammer strut pin had walked its way out and had been rubbing on the hammer cage. I contacted CGW and asked about this and if it was common, Daved was extremely helpful and patient with me on the phone. He mentioned that most likely the rear hammer cage is slightly out of spec on some of these guns, and I tend to agree.
I called CZ and after much discussion customer service said that their fix for this would be to stake the hammer pin. They stated that this is very common on the steel 75 pistols and that it is done on all pistols as they have left the factory. Customer service was friendly altogether and I opted to just stake the pin myself and since then have had no other issues with the hammer sticking back.
I would really like a new hammer cage, but at least for me CZ would not sell me the part. I believe the gun now is 100%.
Point of this story....Check your strut pin!!!!!!!