Properly installed there is nothing wrong with the felt seal. Remove the bolt and the pulley falls off. Pick out the big circlip, remove the thin plate, and pick out the old felt seal. If you are really feeling like you should check, get a .004 in feeler gauge and confirm that it fits in and slides easily around the crank snout between it and the housing. If it does, then the housing is centered. Oil the felt seal really well, push it in, and replace the parts. About ten minutes tops. And it won't leak if the crankcase breather system is working as it should. Far easier than installing the new neoprene seal.