Pete,
You own a Megger?
What I would do is disconnect the motor, open the terminal box up, disconnect the C-switch and megger the Start and Run windings to Ground.
That should give you an idea of what is going on there.
It sounds to me like you have a winding down to Ground within the pump motor.

With it being a 120V motor, you should only use a 250V megger test.

Hope this is of help.