I have cleaned with contact cleaner and paper tape pretty extensively, but can always go another round.
I do not think that is a good waveform, but similarly, no idea.
-Eric
Correct me if Im wrong but could just be "dirty"; as the cam rubs against the switch youre seeing noise like a dirty volume pot.
Id use some alcohol and a business card and scrub the contacts (plus Im not sure thats even a terrible signal for a 1940s device. Going machine to machine I dont think that tiny bit of leakage woulda mattered.
Again, correct if wrong, Im here learning too.
Jeff KC3GJX