Well the lower bearing in the steering column is actually just a plastic bushing, not a bearing. While looking at another G-body forum for rear coil spring info I ran across a post about replacing a worn steering column bushing with a kit designed to fix the problems with the Jeep sloppy/worn lower bushing. Of course this is related to the swapping in the Jeep intermediate shaft, a common swap for a G-body.
There are several good videos of how simple the job is, can be done with the column in the car. 87 Olds 422 in this video. https://www.youtube.com/watch?v=5Jz62rV6R_Q
My 86 SS has quite a bit of mileage on it now, the high effort XH steering box, fat tires, all contribute to wear on that bearing. A quick check of it for slop there didn't show excessive play but just thought for 20 some dollars I'd pull the old and replace it with a bearing instead of the bushing. The kits are all over Ebay, ordered this kit last night.
I've had the top of the column apart several years ago to fix the loose tilt bolts, never gave it much thought about the lower column bushing. Have never seen any info on this forum about that bushing. Anything to tighten up the steering is a good thing.
Installed a Borgeson intermediate shaft a long time ago, before the Jeep shaft swap showed it's face.