While I have literally zero knowledge of tilt steering columns, it beats me why the rag joints for tilt and non tilt could not have been made the same. Afterall, a Saginaw 800 PS box has 13/16" 31 spline for both applications. Manuals would also be the same in their respective size. SO, why did there need to be a different connection in the first place? I could well be missing something as I've never actually seen one, but as someone who spent years working in automotive parts development (air induction mainly) the logic escapes me. Some of the "engineers" I worked with, possess very little logic..... believe me!
With a tilt column, isn't it the top end of the column that moves? If so, why is the bottom different?
As for slop in the steering wheel there will always be a small amount of movement measured at the TOP of the wheel. Any more than a 1/2" I would consider slack.
After a so called professional PS box rebuilder damn near put me in the ditch after I got my PS box done, I decided to learn myself how to do them. I'll not go into detail, but the main source of slack is wear between the rack piston groove and the ball diameter. Ford used to sell rebuild sets of ball in 6 sizes and to 5 decimals, i.e. very minute tolerances. You CANNOT adjust slack by tightening the sector shaft down. That will put you in the ditch for sure. The sector shaft adjuster is for setting, or adjusting total preload only!! Therefore too much slack means your balls are worn. (did I say that!) A couple of thou there results in maybe 2" slack on the s/wheel.