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Hi Morton, just noticed this thread.
I bought a used SV70 here (described as good condition) with exactly the same issue.
I noticed the drawtube has been crushed in many places by the bearings, indicating that it has been overtightened. Nothing can be done about that but a new drawtube.
The 10:1 knob (actually closer to 11:1 from memory) has the exact same issue as yours and I couldn't see the cause either.
I gave up and replaced it with a Moonlite, never looked back.
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