So last week I got a bit brave and decided to pull the trafficator in order to install a Moto Lita steering wheel. It actually wasn't that hard.
1) unscrew the olive nut at the steering box
2) snip the bullet connector ends at the end of the wiring harness coming out of the steering box
3) tie a string to the wires to pull through as the stator tube comes out
4) take a deep breath
5) pull said stator tube out (all six or so feet of it)
6) say a silent prayer that you can get it back in later on
7) loosen the nut on the steering wheel which is 1 1/2 inch (on non-adjustable wheel there are no screws at the base of the steering boss behind the wheel and there's a huge nut instead)
8) mark existing steering wheel center position on column (this didn't work for me as the existing wheel was installed off center - more on that below)
9) install new wheel at center (assuming you've attached new wheel to the boss)
10) reinstall turn signal cancellation arm and nut and tighten nut
11) reinsert stator tube with wiring harness, pulling gently on the string from front of car to ensure the wires snake through as well (having a wife/girlfriend/buddy here is indispensible)
12) rewire,
13) position trafficator at just before center as tightening the olive nut snug (but not too snug) tends to move the trafficator assembly, an extra pair of hands helps out here to keep it centered as you tighten
14) all done
Some variations for me: as noted above, the steering wheel installed was not centered. So I took it on a drive with the stator tube and trafficator left out. Went down the road, got a sense of center, pulled over, adjusted, tried again, and again and again. There are a lot of splines and second guessing, but you get a knack for it.
Also, I decided to tackle redoing my bakelite and lubing the trafficator since I was already in there. Took it completely apart and had it back together according to the instructions found here:
https://www.healey6.com/Technical/Trafficator Repairs.pdf
Far easier than I feared and so far it looks amazing (still need to shine up the bakelite after the coats of ink). Well worth the time and effort. I'll post some final pictures after all is said and done.