I got a reply from Benelli ...
I knew they were going to say something along this line.
This is out of spec by our standards shooting at 21 yards. But be aware our guns are European sighting and do not shoot point aim but over the point aim. The target should be on top of the front sight. We will get back in spec for the SBE III.
We are on an estimated 7-8 week repair time once we receive your firearm. Thank you and sorry for the difficulty. Pack the shotgun in a plain box, broken down. When going to your shipping facility, you may say that it is machined parts.
So I have pack this thing up and send it via Fed Ex. I love the so called European standards. Whatever.