I'd rather have a stock that's too tight than one that's all wobbly. That said, I haven't handled yours so, it's hard to judge just how tight it is. Personally, if it's not hurting anything, I'd just run it like it is. It will likely loosen up a bit over time and how often do you really need to adjust it anyway? You'll probably have a tough time evenly sanding the inside of the stock. You might try working it back and forth for a while while you are sitting around watching tv and see if the parts wearing on each other loosens it up a bit. As a bonus, this should annoy the shit out of your wife.
edit: After working the parts back and forth for a while, if it's still binding, you should be able to see some wear marks inside the stock if there is an imperfection that's causing the pressure on the tube. Then you can lightly sand that spot until it moves a bit more freely.