I recently acquired a 75W Lionel 1032 transformer with a bad direction/horn switch (i.e. the one that's most often seen with the red lever). The return spring (which returns the red lever to the neutral position was broken. I removed the old switch shaft assembly (1033-42), the broken centering spring (1033-98), and the retaining sleeve (100-99) and ordered new parts. After installing the new parts I discovered that the new return spring didn't work. It wasn't properly configured for the intended purpose. The red handle would not return to the neutral position with the new spring. Ultimately, I removed these new parts and installed a jumper wire to allow the use of the transformer without the direction/horn switch. Most of my vintage locomotives either don't have horns, or don't have tenders with horns. So I am more interested in just being able to supply variable AC voltage to the tracks.
I am probably going to gift this transformer (along with some tracks and a reconditioned train set) to one of my nephews kids. So they'll have fun with it just the way it is.