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Well I previously owned a '62 Silver Comet (I know its nothing like a 46' but it was a Roamer) and did complete swapping out the steel rudders. Although they were 'frozen' they looked like an hour glass where the packing was supposed to seal. I replaced them with a brass set (which I had to cut down in profile to match orginals) I picked up from a 36' plywood Chris Catalina (yes the shafts were huge for a 27' boat).
The packing nuts were frozen to the logs and I cut them off flush with about an inch of thread showing. I had a machine shop make a female-on-the-bottom and male-on-the-top threaded tube to replace what was removed (female section on bottom was tapered pipe thread). Oh the joy of it all.
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