I'm not familiar with first gen steering columns. Most of the columns I have worked on had an alignment mark on the shaft and on the wheel. Line up the marks, install the wheel, and tighten the nut. I would not use an impact on the nut. Unless you have a torque wrench and specification, tightening up by hand is good enough.
If there aren't any alignment marks, make sure the front wheels are straight before installing the wheel.