Bent/buckled hub .. how does this happen ?

I have a nice Dura-Ace 7403 rear hub which runs very smoothly on my road bike BUT I've noticed that its buckled ? .. I dont know whether this has happened during the two years that I've had it or whether it was bent when I bought it (suspect it was) .. the hub needs to be turning fairly rapidly for the wobble to be visible .. the cassette wobbles also. The axle is quite straight .. cant figure how it the buckle could've happened ?
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It's pretty common for the cassette to wobble a tiny bit when viewed from above, but generally on lower end stuff.
If the bearings are OK and properly adjusted, the axle is straight and the wheel sits squarely between the seat and chainstays, I wouldn't worry about it.
The 8-speed uniglide/hyperglide freehub, cups/cones, bearings and axle seem fine .. I've replaced with Ultegra 600 Tri colour (front and rear) .. the wheels are built and are free-running and smooth. My original front hub was RSX A410.