Can you wiggle the rim side-to-side with the brake not engaged? Or do you mean that the rim moves forward and back when the brake is fully engaged but otherwise has no play? If the latter, it's probably the disk attachment to the hub. Either the lock ring that holds the disk has become loose or the hub flange or disk itself are damaged.
Oil is good, grease is better.
2007 Peter Mooney w/S&S couplers/Terry Butterfly
1993 Bridgestone MB-3/Avocet O2 Air 40W
1980 Columbus Frame with 1970 Campy parts
1954 Raleigh 3-speed/Brooks B72