Need advice on ignition lock replacement 1963 Corvette
 

I am the recent proud owner of a 1963 roadster. The other night when my wife could not find the key, I tried using one of the blank keys that I had recently purchased but not yet cut. It started the car right up. Further playing with the car made me realize that I could just grab the key guard and turn it over - even from the locked position. I’ve already used a paper clip to remove the lock cylinder and could easily have a new one from zip Corvette rekeyed to match the original which has the key code stamped on it. The question is, do I just need to replace the lock cylinder? Or is it the underlying ignition switch that probably needs replacement?

You should not be able to turn the key from the LOCK position; HOWEVER, make SURE its in the LOCK position when you try the test. Sometimes the cylinder is mis-aligned with the labeling above the switch....

If its an original with worn parts - I would prob go repro and have the tumblers re-keyed to your keyset...

For me, depends on your car. Driver? Follow FtF advice. Restored/really nice, check with an experienced (old) locksmith to see if new pins and springs will repair the original stamped tumbler.