Just to clarify about the mast pin – it’s just to assist with raising and lowering the mast (before & after towing or during bridge shooting),  unless you race, which I almost never do, as reflected in the fact that neither Cockle nor Shearwater would measure as a legitimate Wayfarer.[/edit]
This link http://www.yachtsandyachting.com/downloads/?s=73&ArticleNumber=17 takes you to one of the online tuning guides. Scroll down the page for a table of measurements, with some explanation too, but if in any doubt ask here.
Looking at the photos it’s clear that there is too much gap between the pin hole in the tabernacle and the surface of the mast step (unless someone has sawn a bit off the mast, same effect).
On Shearwater (Mk1 composite) there’s a chunk of timber under the grp moulding just beneath the mast step track. It extends quite a way towards the centreboard case, say 200mm.The timber is in turn supported by a vertical block between the sides of the tabernacle – this block is what takes the load to the hull. (To be strictly accurate there’s also another small block under this one which spreads the load a bit). I’ll try to attach a photo to show the view backwards from the front buoyancy…
…you can see the double thickness chunk of timber (only partially varnished, seemingly) and the slight deformation of the grp moulding, which is however in good contact with the timber. To either side you can see the tabernacle, with the support block between.
On Cockle we had a slightly different arrangement, as there was (is) a piece of hardwood between the grp moulding and the underside of the track, which may be what you need. But make sure everything’s sound below first.