When I received the new magnet and impeller assembly, I removed (and later replaced) the lower rubber bumber to slide the magnet onto the shaft. I then clicked the magnet to the actual impeller, so the impeller and magnet cannot move independently. However, there is about a 1/8 turn of play between them. (i.e. holding the impeller, I can rotate the magnet about 1/8 turn until it stops.) But I am pretty sure this is always how it was. I don't think gluing the two together will alter much other than to remove that play.
Ok, sounds like everything is right with the impeller. That 'play' is supposed to be there; however, unfortunately this makes me think the motor is tired.. I was playing with 2 of my ancient 350 magnums last night. I had to replace all the seals and now found the doggone hose connectors are leaking. Of course, that's the only rubber seals I DIDN'T replace. *slaps forehead*
Good luck - hope you find the issue and can fix with ease.