And please take a look at this image below. If you were around when I was preparing a tutorial about repairing your headlight switch, you may remember the switch I was using was intermittent...worked but not very well and not at all predictably. I think if you look at the contact plate, it is easy to see why it wasn't working. Could you do the same thing with your ignition switch? Probably so, but you won't know until you take it apart and see. Given that you can buy a brand new switch, keys, everything for less than $20, I'd say that might be the best answer. This headlight switch (as you can see in the second image) cleaned up very well...
~ Jon 1952 1/2 ton with 1959 235 | T5 with 3.07 rear end