  WR 148 (HD 197406) is an extreme runaway system considered to be a potential
candidate for a short-period (4.3173 d) rare WR + compact object binary.
Provided with new high resolution, high signal-to-noise spectra from the Keck
observatory, we determine the orbital parameters for both the primary WR and
the secondary, yielding respective projected orbital velocity amplitudes of
$88.1\pm3.8$ km s$^{-1}$ and $79.2\pm3.1$ km s$^{-1}$ and implying a mass ratio
of $1.1\pm0.1$. We then apply the shift-and-add technique to disentangle the
spectra and obtain spectra compatible with a WN7ha and an O4-6 star.
Considering an orbital inclination of $\sim67^\circ$, derived from previous
polarimetry observations, the system's total mass would be a mere 2-3
M$_{\odot}$ , an unprecedented result for a putative massive binary system.
However, a system comprising a 37 M$_{\odot}$ secondary (typical mass of an O5V
star) and a 33 M$_{\odot}$ primary (given the mass ratio) would infer an
inclination of $\sim18^\circ$. We therefore reconsider the previous methods of
deriving the orbital inclination based on time-dependent polarimetry and
photometry. While the polarimetric results are inconclusive requiring better
data, the photometric results favour low inclinations. Finally, we compute WR
148's space velocity and retrace the runaway's trajectory back to the Galactic
plane (GP). With an ejection velocity of $198\pm27$ km s$^{-1}$ and a travel
time of $4.7\pm0.8$ Myr to reach its current location, WR 148 was most likely
ejected via dynamical interactions in a young cluster.
