Excessive end play is a difficult call because it does not affect performance in forward gear, so it is difficult to say whether or not you need to disassemble the lower unit to find the reason. However, if you have the time It might be a good thing to check. It will only cost you the oil change (which you would do periodically anyway) and some time.
Yeah, It'll be coming off for an impeller inspection/replacement this Winter and the Amsoil synthetic oil is coming out too. In regards to anyone working on the lower unit, I would have no idea. I bought it on the back of a Bayliner project boat about 5 years ago and only started using the motor a couple weeks ago. It's a 1983 model and who knows if this is even the original lower unit. It runs fantastic and shifts smoothly though. I had the lower unit out last year when I installed a complete water pump kit and I also drained and refilled the oil with the Amsoil synthetic. The oil that came out looked clean but not brand new and I don't recall any appreciable amount of filings. I would be sensitive to this as I am also an aircraft owner and we always sift through the old oil and filter to ID anything that might be wearing.
I am mechanically inclined so I'm not opposed to getting into the lower unit.
Marty
http://www.martyhammersmith.com