Obviously it's worth inspecting things to know for certain what's going on. And at 40yrs old, the
current rudder's done it's job & then some. But before, & in addition to finding out what's going on inside of it, first check your
steering cables for play. As well as checking to see if the keyway that your steering wheel slots onto isn't worn, ditto the slot for it in the wheel's hub. Since once either of those
parts wears just a tiny bit, it translates into the
helm feeling quite loose. And by a tiny bit, I mean that you literally couldn't fit a shim in there the thickness of a
beer can, yet you'd have quite a bit of subjective rudder play.
Should you need to
rebuild your rudder, Nicholson58 did an excellent job with his, which is documented in pics. He built the rudder's
core out of slow curing
epoxy mixed with microballoons. So there'll never be any opportunity for the core to get soaked again. And it'll be much, much tougher than a foam cored blade.
If you can't find the writeup, PM me, & I'll see about finding the text to go with the pics in his threads on the
rebuild. Though I have reposted it a few times in the last couple of years, since rebuilding rudders is a common topic. So a search via my handle & the topic might turn it up as well.
Cruisers & Sailing Forums - View Profile: Nicholson58