No, TR2-4 didn't use the angle adaptor even with OD.
Make sure all the bends in the speedo cable are as gradual as possible; it should loop all the way over against the RH frame rail as it turns to run forward, then up the firewall and across in front of the battery box.
Odds are good that your wavering needle is a problem in the speedo head. The speedo on TS39781LO always wavered, but it still did so even when I temporarily removed the OD and installed a new non-OD cable.
One thing you can try, is loosening the clamp where the cable enters the speedo head. Apparently some replacement cables are too long, and put pressure on the mechanism, leading to binding (wavering) and rapid wear. But if it's already worn, there isn't much you can do besides rebuild it.