This is on my 70 GS 4 speed.
Normally, the key should only come out of the ignition when the car is put into reverse when the reverse lockout rod rotates the column to "park". On my car, the key comes out no matter what gear its in (or not in for that matter). Someone mentioned a while back the issue is in the lock cylinder. Since it was worn anyway, went ahead and replaced it, but the problem still exists. All the linkage is intact from the trans to the column. The bowl on the column seems to rotate normally when put in reverse. Just baffles me why its like this. Before I tear my column into little bits, doesn anyone have an idea what exactly controls this feature inside a tilt column?
I looked at the service manual but it really doesnt give you that much troubleshooting info.