I assume you meant the guides and not seals when talking about play. There should not be any play between the guide and valve stem. The guide acts as a bushing. If there is any play, it breaks the seal between the valve stem and the seal. If the head is going to be off the car anyway, replace the guides. Its cheap insurance, at $2 a piece and the labor is probably included in the valve job. Some other considerations: heardened exhaust valve seats for unleaded gas, teflon valve seals from ford six parts (they are only $15 vs $12 for stock umbrella type and last much longer)
Hope this helps
Dan
68 mustang 200 under construction