To remove the cutlass bearing, I used a reciplicating saw with a hacksaw blade and cut the old bearing out in two to three places after removing the set screw.
To install the new cutlass bearing, purchase a length of threaded shaft at any Lowes or hardware store. The nuts for the threaded shaft are sufficent for the job, but the washers you use should be the diamiter of your cutlass bearing and the diamiter of your strut, simply tighten the nuts till it pulls the new bearing in place. It is important not to beat on your strut, since it is only strewed to fiberglass by four strews.