If the wheel will turn, there isn't much interference and a little sanding of the pad should solve the problem. If there is an unworn ring on the outside edge of the rotor, sand or grind it off.Have you tried to switch the pads? One might be a little thicker than another.
If the rotor doesn't cause the brake pedal to pulsate, the rotor is OK. Just think how hot the rotors get when you stop quickly from 100 MPH. They are made to take a lot of heat without damage.
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