It could be the ignition switch at fault. But, before you go changing it out, make sure your key(s) aren't causing the issue. If you have more than one (many don't), check both keys. If one works properly and the other does not, it could be partially due to a faulting key/fob... The instrument cluster not lighting would seem to indicate a failed fuse in the circuit. It could still be the switch but, being that it starts, I find that difficult to believe. As someone else on this forum has dubbed it the "Robert King Technique"

always go for the easiest, simplest solutions first. fuses, connections, etc. One thing I can say is, the key switch mechanism is seldom at fault when lighting issues are involved. Don't get me wrong here, the switch can cause weird issues especially if it has been damaged in some way but, it's basically a series of rotary contacts that are either engaged or aren't when you turn the key.
My advise, for what it's worth, check the fuses first.
On a side note, tell us about your S... Mine is 3.2L 6speed manual, Black Metallic exterior, Black leather interior. Factory wheels with new powder coat closer to the arctic silver trim interior. Stock CDR 220 head, dash only speakers