I just replaced mine and used 3/16" in my 78 Barry. 1 1/4" shaft. No worries changing it in the water. You can stick a rag in the hole when you pull the nut off. I use a manns jig head and just straighten it out to 90' and use it to remove old packing. I used 3 or 4 layers.
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"Lifes too short to own an ugly boat"
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