How much free play should new timing chain have?

the S.P. KT3-160S and C-3028 Cloyes is a stock 340 double roller replacement, small .200" diameter "rollers", not a true roller chain, should be fine. It would be very rare to spend $ to line hone a 318. return the S.P. and try a cloyes C-3028X. my 340 was lightly align honed and did not need a shorter chain