There's a DIY article on replacing the ignition tumbler (after the key won't turn) on a W201 chassis. It might not be exactly the same as with the W124, but, it'll definitely be similar.
Here's the link:
http://www.peachparts.com/Wikka/W201IgnitionSwitch
I just did my ignition tumbler. It started to hint at the tumbler not turning...and that was enough for me to change it. Much, much less work.
Good luck