Steering Column Bearing Replacement HELP
Although I did that write up, I'm afraid I'm not going to be a ton of help. Part of the reason I used the insert bearing was to eliminate the inner tube, as I converted from a column shift to a floor shift. But your plan sounds like a decent way to tackle the issue.
As far as the clocking, that inner tube, at least on the later models, is what the column shifter moves to change gears. You'll want it to be lined up so that the column shifter and linkage attaches properly. With the column apart, I'm not sure it matters. You'll have to re-attach the column shift to hold the inner tube in place. All of that said, I know the '67 column is a little different than the later columns, and all the ones I've dealt with were later.