Officially, there should be no play at all but, in practice, I would expect to find a couple of thou. The gearbox on my Super Rocket had a lot of play in the sleeve gear bush but, in spite of this, the bike ran fine. From your description, unless you were planning on taking the gearbox out, I'd carry on using it as it is. It is a big job. The gearbox has to come out and be completely dismantled, then new bushes fitting in the sleeve gear and carefully honed out to accept your mainshaft. You definitely can't do this in situ, nor can it be done without the proper tool which would be an expanding reamer or lathe.