2-3 threads showing may not be too bad. True it is a quick check when looking at a box but it should be checked.
These boxes in stock form are sloppy in the lash, sideplay, and pitman shaft endplay. When properly blueprinted they are 100% better.
Play associated with steering can be found in the box, rag joint, suspension parts, bearings and alignment. Be sure the rest of the parts are good. See if there is lost motion in the box, with the front end off the ground have someone turn the steering wheel while you look at the rag and output. When on center there should be no lost motion in the box. Off center there is and should be, but on center should move the same at the input/output. If not then you have a box issue.
Check my post here, it will help you.
Good luck, if it's the box it can be corrected
http://www.digitalcorvettes.com/forums/showthread.php?t=76773