I'd like to amend that cautionary note a bit: We always slip the clutch before engaging it fully. Where it becomes counterproductive is when one raises engine RPM's past a fast idle and slips the clutch for an extended period to engage it without lugging the engine. Drag racers do this, to be sure, but their clutches are purpose built and their engines require high RPM's to make power. Also, they frequently overhaul their cars between runs. Our aim, generally, is long intervals between overhauls: years. Decades, even. Ain't gonna happen if you aren't gentle with the equipment. Try this: on flat ground, fully engage your clutch without touching the throttle. I doubt you can do it in less than an afternoon in second gear. That is why we need first, to get going. Use first with a very light throttle application, and shift to second as soon as she comes off idle, say, at 10 mph. You'll like your fuel economy if you do it right. I used 2nd to start only on a descending grade. I love those 3-on-the tree trannies!
If everything else is right in your steering, the play is probably in the box as tclederman says. I adjusted mine - without a scale - for 1" of free play at the rim of the steering wheel and am happy with the result, but my kingpins and other components are either new or good (or both).
55 is as fast as you want to go with a bone-stock 3100, and that only if you have an original tire profile. I liked 50 better in my '53 3100; it was a bit more relaxed. My current truck, a 3800, was geared substantially lower and felt flat out at 50 mph. It is happy now with its new 4.10 ratio (the same as a 3100) and a 31" tread height on the radials at 55 and will handily do 60 all day, I think. But I still like 50.
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