Conception many find perfect (5)
I believe the answer is:
ideal
'perfect' is the definition.
(similar in meaning)
'conception many' is the wordplay.
'conception' becomes 'idea' (I've seen this in another clue).
'many' becomes 'l' ().
'idea'+'l'='IDEAL'
'find' acts as a link.
(Other definitions for ideal that I've seen before include "fanciful" , "Paradigm" , "Best possible" , "superb specimen" , "To which one aspires" .)