I just pulled my swing arm off of my K6. I have 18K miles on the clock. Mine was more free than yours and I was able to tap the bolt to get it started, then pull it out by hand. I think my swing arm has been re-worked but the collar (steel tube inside) was galled and I had noticeable end-play.... it was time. The recommendation from "the swing arm master" is to find another swing arm bolt with grease fittings on the ends (earlier versions... pre-K4?). He (HondaMan) also makes bushings and will re-work your swing arm if you ship it to him.
Back to your question... if you have to get "rough" with it, try hard to hit it in the center with something somewhat blunt so you don't distort the end or threads. It might not matter if you'll be replacing the bolt with one that has grease fittings
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