I set the wheel Timken taper cold bearings to zero play but without much force on the inner nut. Turn the nut until a bit of drag is felt, then back off a little and tighten the locknut. Turn the wheel again to ensure there is no drag or at most a very small wiggle at the top of the rim. A tiny bit of preload is good. With a too large play the rollers risk start to rattle and self destruct. It is difficult to set precise with the lock nut but the bearings can cope both with a little play or a little preload. Ideally, the taper rollers should have full contact with the race. 

Wheel bearings on cars has a fixed inner race distance so the center nut is torqued to a value, but that's not the case on the 101.

With the earlier loose ball bearing hubs there has to be a play, because the balls must not be allowed to load one side only on the races. It has to be felt a small  wiggle at the top of the rim.