That sounds like a lot of play for a rear wheel bearing to me but then I'm comparing it with the designed limit of 0.04mm to 0.06mm - and I know you are feeling the play away from the centre of the hub...
Is there anyway of measuring it as shown in the DIY below? So that you know...
PeachPartsWiki: Replacing the Rear Wheel Bearings
Alternatively ask someone like vstech for his advice - he's lived with dying bearings before.