manual trans noise

Have a 1993 GMC S-15, 2.8 with a 5 speed. The tranny started making a "gear" noise in all gears, I pulled the trans and the pilot bushing is worn a lot, .130 difference between input shaft OD and bushing ID. Do ya'll think this would create enough "slop" to give me a noise, or should I get into the tranny? Thanks