most touchpads have tiny little 'flaws' here and there including loose volume switches, light bleeding, recessed home buttons, flexible bezels and even dead pixels. it just depends on how excessive these are and to a certain degree how much they bother you. yes, i went through quite a few touchpads before i found one that i liked however this was at full price and at the time couldnt justify spending that kind of money on a device that had even minor imperfections. i've since gotten mine price-matched and so any 'flaws' are much easier to justify now (the one i ended up keeping was pretty flawless however due to my persistence ).
Bumping this thread because I have been wondering the same thing. My 32GB's home button seems loose as well when compared to my girlfriends 16GB one. When I first got the touchpad at the firesale the button flaked out on me and stopped responding to the initial click unless I gave it a little more of a push. It also seemed to be very loose. So HP fixed the click response problem for me, but it still seems to have too much play IMO.
They gave me the same touchpad I sent in back based on a few marks on the rubber lining where they took the case off. I'm wondering if perhaps it's just loose manufacturing tolerances and I didn't get a good one to begin with. I can press on the lest and right of the button pretty easily and it just feels looser than it should for a device like this or compared to other touchpad's I've used.The button just doesn't rest level with screen and instead it is at a bit of an angle and slightly recessed.
I'm debating if it is worth calling HP again to try to get it fixed (doubt they could without giving me a different touchpad) or just live with it and swipe.