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Hal;
Yes there is!...before you insult 40+ year old hardware...
...have a locksmith pick the lock into the IGN ON position, so that the lock cylinder can be removed (by pushing on the release pin and extracting). Then you have some options....like having him make a key by impression or replacing the lock cylinder with one which has a working key (no more than $50 from an organ donor car I figure). In the meantime, you can use a large flatblade screwdriver to start.
For more details, see: http://www.intelab.com/swem/service%20notes.htm#Body
Cheers
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