It would take a few seconds with an ignition oscilloscope to see what's going on, but I'm guessing you don't have access to one.
While worn distributor bushings are not a good thing, I DOUBT they are causing the problem you are seeing.
I would suspect a fuel issue, or possibly a "thermal" coil or condenser.
As a "down and dirty" test to see if the shaft play is causing your problem, you could try increasing the point gap a few thousandths, then decreasing it a few thousandths. If one way or the other makes it run better, that would tend to point to lots of shaft movement and when the housing warms up and expands a bit, along with the wobble, the changed point gap gets out of the range in which the points will close, then open up to create a spark.
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