Well, blade play to some can actually be them flexing the blade by really pulling and pulling hard on a blade. If you want no movement in any direction buy a fixed blade. Anything that moves and wear will eventually develop gaps where slight movement can take place. This is where a quality products are important IMO.
Through the years there have been a few that have had vertical play, I remember the P1 had a few mentions, lately with the new pivot design some side to side has been mentioned, however I have never heard of one failing.
It is a good lock, excecuting sound principles in lock design, even with play it won't just fail. The lock has to deform or shear the stop pin really and by that time one should know you should be using another tool.