SC Distributor axial play but gear mesh is centered??
 

My 80 SC distributor has about .070" of axial play with no noticable radial play. The crankshaft shaft gear meshes with the distributor gear so that the contact patch is right in the middle of the distributor gear teeth. In other words it looks right on to me.

Should I go through the hassle of taking up the axial play?

.070" play indicates that one or both of the fiber washers has disintegrated.
This will only get worse.
As it does, it will cause collateral damage to the housing cap & rotor as well as cause premature bushing failure. Fix it now to prevent further damage or complete failure later. The distributors are getting harder to find all the time so take care of the one you have.

Call Stoddards and buy the 912/356 distributor rebuild kit. It has several metal washers of the size to replace the fiber ones and one actual fiber replacement. The metal ones are different thicknesses so you can adjust the play as needed. See this thread:

http://forums.pelicanparts.com/showthread.php?t=401888&highlight=distributor+rebu ild

Enjoy!

Michael