To answer the questions:
1. The strut was loose when inspected during haulout, and the hull had cracks in the perimeter where it was bedded. After removing it and having it sand blasted by a marine services professional, it was revealed that it had serious pitting in the area surrounding the cutlass bearing. I agree it is a hefty piece,even with pitting. I can take some pictures if that would help.
2. I took it to a local propeller shop today and they advised replacement. They have a resource for one made of stainless.
