The ultimate cure for a worn aluminum frame is Acc-u-rails. Not cheap but they actually work. I've had them for years on a couple of aluminum frame 1911s that have had in excess of 30,000 rounds through them. The slides still move like they're on ball bearings and not a hint of looseness anywhere. http://www.acc-u-rail.com/
Unless you're shooting from a Ransom Rest, you ought not see THAT much difference when using a loose slide than when using a tight one -- as the sights, barrel and slide relationship typically remains the same -- and if those three key parts align consistently and the barrel isn't trashed, accuracy shouldn't be greatly affected.
As others have suggested, there may be other causes for the change in accuracy rather than slide/frame fit.
In my case, some of the change in performance I see (or maybe DON'T see) seems to be more due to degradation in my eyesight than changes in my guns...
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