Understand that correct back-lash for gears is around .006 at the very tightest, and usually around .007-.012 IIRC.
This is definitely enough distance to hear a bit of a clunk from, especially when you factor U-joint, slip-yoke, and all the gears in the transmission ALSO have a bit of slop in them (if they didn't, the car wouldn't be going anywhere). You probably have around .25-.5" of slop in the drive-line or more, easily. Maybe even more. I wouldn't worry about it.
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