Updated
The screw does come out, pretty much as if the threads are OK. It just doesn't tighten up completely. When I unscrew it, the threads have a powdery brown residue on them (I didn't unscrew it all the way). These four screws (2 on each side) hold 2 plates which seem to contain the wedges (I doubt they actually go into the keel). I am thinking that I will just unscrew it, put a glue of some sort on the threads, and screw it back in. The wedges are kinda "free floating" in there also, there is space between them and the centerboard and they move if poked with a screwdriver. I never had any problems with the keel "steering" the boat last summer, and I am hoping this will all hold together for about 3 months in the water.Thanks for all your suggestions...