I use this exact plot on a regular basis. This is a shaft center-line plot from a set of X-Y radial proximity probes in a Bently-Nevada continuous monitoring system. The plot looks identical to the ones that I generate in the Data Manager 2000 (DM2000) software. The plot represents the DC component of the dynamic signal from the two probes. This represents the average shaft center-line as the machine is started up from a dead stop. The circle represents the total bearing clearance (on diameter). The plot looks perfectly normal to me. The shaft came up about 1/3 of the total bearing clearance and moved off slightly to the right based on the expected oil wedge location for this rotation. If the bearing is a plain journal bearing, I might have expected more movement to the side. This is probably a tilt pad bearing of a more sophisticated design. A bearing of this sort can be designed to have the shaft come up almost perfectly straight from the bottom of the clearance. Since the plot is labeled for points 1X and 1Y, I believe it is from the outboard bearing. It would be typical to number the bearings from the driver to the driven for most systems. But, it is common with Bently-Nevada to number them from the driven to the driver. That is the standard that we use with all of our systems. I cannot comment on the condition of the shaft alignment based on this plot. An orbit and waveform plot would be more helpful there. I would base alignment evaluation on a spectrum, as well. But Bently-Nevada has generally emphasized orbit/waveform analysis over spectrum analysis. Without information about the bearing design, verification of the location (inboard or outboard), coupling design, speed, etc. any sort of analysis would be pure speculation. You might get better feedback in the Mechanical Acoustic/Vibration Engineering forum.
Johnny Pellin