I seem to remember that the swingarm bolt is supposed to squeeze the swingarm - i.e. there is a play when the bolt is out and no play when tightened down.
Anyway, on the K3F the swingarm with new, flanged bushings had too much play, I ended up using washers to eliminate the play. There was not enough room for those original cap washers that go with felt washers - so I searched my washer bin and ended up opening the right thickness washers on lathe to accommodate the long swingarm bolt. It seems to be nice and tight, but since the K3F is not on the road yet, that is the only feedback I have.