Sounds like the shaft/tab between the tumbler lock and the switch is either broken and barely gripping on raw friction or stressed and about to twist off.
I've seen that type of failure many times on several cars, usually caused by old grease in the switch getting gummy and putting excess stress on it when you turn the key. I would fix it asap, and the wrecking yard might be a hard stretch, these things appear to be pretty well built. When I got my car the P.O. had lost the keys, I unbolted the column and dropped it to try to bypass the switch to get the steering unlocked so I could get it on the trailer, when all was said and done, I had made no progress, the ignition "looks" like it'll pop right out if you undo the banjo clamp, but it won't. I finally ended up putting a floor jack under the front member and using that to steer it onto the trailer, then ordered some key's by the vin #. (Was cheaper than a locksmith)
The good news is, if it is built like most locks I've seen, then even if the tab to the electric switch busted, you could still be able to remove the tumbler with the key as long as it turns, and then get in with some needlenose pliers or a pick and get the remains of it out.
-Chris