I don't see why it would not work
a treat... They used to use Purple heart slivers in a hammered home fit on the liberty ships. Anything remotely slick that wears slow and wears before it wipes out the shaft works.
Not all that long ago, the state of the art cutlass bearings that lasted about a year in working net boats around here... improved greatly when goretex boots came around, and the new and improved welded on welt soles came around with them...
The quality of the heel of the boot that got tacked on over the hole in the horn timber aft behind the shaft log lasted a lot longer.
So, the next time you tear a foul weather
boot, just remember that if you save the sole you've got a cutlass bearing ready and waiting... Helps if you have something to nail it to.
Stern bearings are an expensive creature, if you have to cast them to fit the keel
of the boat
you've built... old boots are relatively inexpensive, and when they sell em to you, normally they give you a spare!