We started this project yesterday (it's been relatively warm in MD, which helps). Started on port side first, got the old packing out with some difficulty. It turns out that the replacement packing size is actually 3/16"; I brought 1/4, 5/16 and 3/8, and even the 1/4 was too big. At that point, we measured the one intact ring of packing that we'd gotten out, and realized it is 3/16". So, drove to Fawcett's right before closing time, just made it, and packed that side with 3/16 graphite packing.
My friend Dave who really has done all the work here, since 1) I can't easily fit in there and 2) just had nasal surgery so I'm not supposed to, was kind enough to also clean up the rudder ports and associated hardware with an angle grinder and stainless wire wheel. They probably haven't looked that good since the boat was built in 1971. My preferred stuff for keeping them looking good and not turning green is Corrosion-X- we'll see how it does for this application.
We ran out of time to finish all the packing work, but today I'm going to spend on the bonding wires we found which need to be replaced- I can make those up at home and then replace them. Feels good to make some progress on the always-endless list of maintenance items.