I just pulled apart the front of my car searching for leaking oil...when pulling off the timing cover i found that the timing chain has some play with it...i was wondering how much play is supposed to be in the timing chain and could this play account for a possible miss?

 

You shouldn't get a miss from slack in the timing chain. The LT1 seems prone to a little more slack than what you would think it would have (even with a new stock timing set).