[Farmall] PTO Wobble

[kbecker]

I have been working hard on the tractor.. changing fluids and getting her
running good. (more on that later)
I think I may have missed something....Today while it was running I engaged
the PTO.
I noticed the PTO shaft was wobbling. It was getting dark and I didn't
spend a lot of time 
examining it my best guesstamate would be about 1/8th inch total or about
1/16th each direction.
It sure looked like alot of wobble to me. 

Does this sound like a major problem or am I panicking over nothing?
 

Thanks
Kenneth