One common problem found on early V8 Fords is dents in the steering column tube. These can be pretty easily removed by passing a 1-7/16 inch diameter steel ball bearing through the tube.
One and seven-sixteenths is the exact size of the inside diameter of the tube. Check your local bearing supply house or production tool supply for steel ball bearings.
The pic above shows a typical "before" dent in a tube.
The pic above shows the same dent after pressing the ball through the tube. This tends to 'iron out' the metal from the inside and does a very nice job.
I have found that a good way to do this is to get a length of steel plumbing pipe which is longer than the tube, that will fit inside the tube, and which will support the ball. Stand the pipe upright on the concrete, place the ball on top.
Next place the tube over the pipe and ball from the top, starting with the tube end having the smallest or least number of dents. Press the tube onto the ball until it binds.
Take the tube and drop it down onto the pipe and use force if necessary. The downward momentum of the tube will push the ball through as it strikes the end of the pipe.
I have straightened several tubes this way and it only takes about five minutes maximum.
The pic above shows the ball passing through the column lock hole area.
I generally try to mark all the dents first so I can go back afterwards and check the surface. Also, I pass the ball through several times until it goes freely.
The ball and column are pictured above after a first pass of the ball through the tube.