If it is the bearing, these guys have a couple of options for an upgrade.
M109SS Lower Steering Column Cartridge Bearing
Wolff Engineering M109SS Lower Steering Column Cartridge Bearing for Saginaw columns with 2" jacket and 1" shaft. This cartridge bearing is designed around a precision, sealed deep-groove radial ball bearing. The cartridge body is constructed of acetal and is precisely toleranced to insure...
www.wolffeng.com