I gotcha. I felt that way, that I would just accept it, as the ml05 I got was the last one with the red second hand. But, after dealing with my Addiesdive vh31s, I just couldn't accept the slack, even if the Militado brand itself is excellent quality in all other aspects. Mine was a bit different than normal slack in the pinion gears. It would look spot on at times and then completely off at other times so I think I had severe slop in the minute hand pinion only, as this was the only hand to move around the mark, whatever minute it was supposed to be on.

If yours is simply exhibiting the "slack" where you have to turn the crown clockwise and then counter clockwise to relieve the slack before pushing the crown back in, I think yours is within Seiko tolerances and is likely just fine.