I have found that radial play can be up to 0,1mm without so much intermittent brakeing, that is with a 2x2 LS set up. axial wobble is to no problems at all. execpt for the sight of it....
i guess for standard set up even 0,2mm radial is OK, as the unstiff set up forgives a lote here...
note hovever that the MOSTimportant is the flat surface of the HUB, The SPOKE flange DRUM. mostly i had to re-machine, also with NEW parts, i alwas say I buy 90% and the other 10% in quality i do myself. it works V.v. timewise though. if not flat, one gets cracks in the drum, same with the spokes, just grind a bit away on the spot, when interferring.
if bolts dont fit, i have a hand reamer 8 mm (oh sorry Mr Bananaman 5/16") this has a conical part. (use it in a drill press for perpendiculair reasons) But first try and find the position of parts, so most bolts fit.
Und der Berndie hat recht, but if a bit of radial play is there no problem, it cant go far, and braking force in Nm is not that much, it will hold on friction even mountain down.
All in all its just comon engineering.