Most older Colt and S&W revolver specs were for a barrel-cylinder gap of from 0.004" to 0.008" with 0.005" being considered as about perfect.
In fact, that holds for any revolver of most any brand or type. A barrel-cylinder gap is a barrel-cylinder gap and subject to the same forces.
These days S&W says that 0.012" is "in spec".
So, if your Python is at 0.008" it's in spec and good to go, just not as "perfect" as you might want.
The cylinder end shake is problematic. Factory spec was for a maximum of 0.003".
When it gets over that the cylinder sliding back and forth when fired literally hammers the gun to death if allowed to remain un-repaired.
The movement allows the cylinder to become a hammer that will batter the frame both under the barrel and the breech face, the ejector, the cylinder collar, and if bad enough; the rear of the barrel.
The battering can leave impact peening damage of the ejector on the frame that can require machining to remove and fitting of a new ejector.
The problem is, Colt no longer services revolvers and Colt was about the only company that had the special hydraulic device used to stretch the cylinder collar.
These days the repair requires machining off the collar and press fitting a newly made separate collar.
Due to the high prices of Pythons these days I'd be looking at getting whatever repair was needed to correct the end shake, or just shoot it with only very light .38 Special loads, and not many of them. In other words, I'd basically retire the gun.
Not getting it repaired is like owning a Ferrari you can't drive.
I don't know what repair method he uses but Master pistolsmith Frank Glenn can repair the end shake, and if it was my Python I'd be talking to him before I shot it any more.
Frank Glenn-Glenn Custom Complete Gunsmithing Service Glendale AZ