I had all the typical issues of a failing ignition switch (intermittent sticking of the key when turning to start, intermittent lack of power to the starter with a full turn of the key, no spring return from the START position to the RUN position intermittently, etc.) so I installed a new switch. The previous owner had serviced the key cylinder so I removed it and its loose pieces from the steering lock body before going further so as not to lose parts that fall out. After putting everything back together the switch gave a good solid feel to turning of the key but there was still some binding up of the key cylinder, intermittent failure to power the starter at full turn, and intermittent lack of spring return out of START to RUN. The new switch replacement did not fix the issue!
After research and troubleshooting, I concluded, the switch gives all the feedback to a turn of the key (there's some debate about this in the forum but I really think this is the case). Turning the switch with the key in the dash should feel no different in the detents and spring return than when turning the switch in your hand with a screwdriver. If you feel a difference, then that different feel is produced by the mechanics that couple the key cylinder and the switch. At that point, you should look to the small parts on the back of cylinder which requires removal from the steering lock/ignition switch housing. These parts apparently separate with age from the cylinder and can live loose in the contraption to cause problems coupling the cylinder to the switch. To fix this, I peened the pegs to hold the two thin parts to the key cylinder again and so far it turns and starts every time no matter how inattentively I insert and turn the worn out keys. Clear as mud? The posts shown below will help greatly! I haven't read any specific info on worn, dirty, or broken mechanical bits outside of the switch as possibly producing the same symptoms as a worn switch so I'm posting my observations here.
Ignition switch - inside to fix START lockout
Ignition switch springing problem
My bottom line... If you have symptoms of a failing switch and the switch is really old, I'd say plan to replace it but also think about the coupling between the key cylinder and the switch, especially if the key cylinder has been serviced in the past for any reason. Kudos to the folks who posted the detailed explanations I cited... that is paying things forward!!!