This is Hammer Time Racing's new Billet Steering Column Bearing assembly (1961-66 big car / 64-66 GTO). The housing is made out of Billet Aluminum and use a quality Sealed Bearing (Dynamic 2595 lbs & Static 1010 lbs ). These bearing assemblies are a direct bolt-in replacement (not factory replacement).
To replace a worn or damaged factory bearing assembly - Disassemble the steering column (remove column from car), unbolt the two screws that hold the original bearing housing, and remove it. The steering shaft will need to be cleaned and inspected for damage. Any burrs or other imperfections will need to be addressed/removed.