:tractor: :jump:
News flash....there has been a new development in the mystery of the headlight switch knob....there is a mechanism for holding the knob in place on the shaft.
There is a spring loaded pin in the shaft that captures and holds the knob on the shaft. It is small and difficult to see with 79 year old eyes in a 1600 sq. ft. garage with the lights off but it's there. So, that answers the question regarding the hole in the knob and just how the knob is held in place. The design is better than a set screw that would likely strip the plastic. The design is likely costly to produce but the switch is high quality and unlikely to fail over time and the knob will stay in place for decades, proven by the age of my M-F (circa 2003, made in Turkey) and the fact that it took considerable fiddling to solve the mystery.