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I agree, the blade should somewhat float in the shaft,but if it is elongated from years of wear that to me is an issue.
Do not want them clicking back and forth.

Another view.
http://i22.photobucket.com/albums/b328/spindlecone/sleevespivot002.jpg

Lots of ways to do it,this is what works for me.I bore out the usually oblong pivot hole with a carbide burr that is exactally 1/8 in. dia.,tap in a pce of 1/8 in. tubing.Cut it almost flush with...