Are you talking about having play in the between the cam gears? Depending on where the motor "stops" you could have virtually no play or quite a bit. As Mark said, it's not so much the play you need to worry about but the teeth.
Edit: I just went back and noticed your mileage. Timing belts are "supposed" to be changed every 60K. Unless you can verify when the last time it was changed, it should either be ok or WAY over due!