Mark, the "tele lock ring" has to be "indexed" properly, in order for it to tighten . Take the horn button off, and then the 2 screws that hold the ring to the center shaft(funky star shaped piece). Then, with a large Phillips screw-driver, turn the center shaft clock-wise, until you feel it get snug. Then put the tele lock ring on, all the way to the left(c-clkwise), and put the screws back in. Then test to see if it will lock as you turn it clkwise. If not, start over, and tighten the center shaft more, until you get it to lock with the ring.
If you get it too tight, the column won't release, and the wheel won't move in & out. Adams' Apple38724.3318981482

Thanks Joel, this is my problem.  I know I've put it back together wrong cause the wheel won't tele, only tilt.  I'll try again and see what happens.