Klunk
From what I read, most keel pins are not a tight fit in the keel. Mine is not either, although it's a reasonably good fit. You should worry more about the structural integrity of your pivot point before all else. Inspect, inspect, inspect. If the hole in the keel and the shape of the pin are still relatively round and a reasonably good fit, everything should be fine. If you want to eliminate the klunk after that, get the shim kit and the new hangars from Catalina Direct. Installing these items will eliminate all side-to-side play of the keel at the pin location and up inside the trunk. I installed it on my boat and it works very well. When my keel is down, it's as solid as a fixed keel (side-to-side). I get no noise or klunk what-so-ever. In fact the shims add a little extra friction up in the trunk due to the tight fit, which I like since I don't use my lock-down bolt.The fact that you're getting klunk noise when raising and lowering the keel doesn't sound good. It sounds like the hole in your keel might be elongated. There are lots of posts regarding how to get that fixed if it's bad. It involves drilling and installing a bushing in the keel to make the hole round again. But, first thing's first, get your inspection done and then go from there.