Kevin
I assume that a 1979 car will have a Gemma steering box , but the standard (MGB sourced? ) collapsable column. If so there is quite a bit of experience on this set up here.
I am afraid mine is R&P, so not much from me.
I suspect that the bearings will need to be replaced but first make sure that the mounting brackets have not worked loose, or showing signs of wear. Competition cars lead a hard life I am afraid , so some unusual wear is to be expected on occasions
