That wobble you are feeling is probably the upper or lower steering column center shaft bearings that are worn out. I tore mine apart 5 years ago because it was starting to effect smooth steering. It was very loose and it was also grinding inside! I was out of town and I was worried it would leave me stranded so I was forced to take it in to the Ford garage. The mechanic said I had bad ball joints and also a damaged steering column and they wanted a ton of money to fix it! So, I slowly drove the truck home and parked it until the weekend! Well, the steering column drops out after you unbolt the lower support bolts, disconnect the various electrical connectors (don't break the plastic locking connectors!), and disconnect the shaft that runs through the floor board. I replaced the center shaft and also the upper and lower bearings. The shaft will probably be scored and scratched if the bearings are damaged. The previous owner probably pulled himself up in the seat by putting his weight on top of the wheel. The center shaft costs about $200 at Ford, but they gave it to me at half price because I was back and forth a bunch of times looking at their parts break down diagrams and they realized that I was on a mission to fix it myself! If you try to purchase a used steering column from another truck, then you will probably pay dearly at a junk yard! The hardest part was probably pulling the steering wheel off. If you don't already own a wheel puller, then rent a puller from the parts store. It took me 2 full days of work to get it apart, going back together was easier since it made sense by then and my confidence was boosted after seeing the shaft go back together and operating smoothly again! Coincidentally, I changed my front ball joints this last winter...