Steven685, In short, I found it a pain in the ... Primarily because there's so little room to work. My advice, if you're in a yard and don't mind spending a few bucks, pay the man. If you're the DIY-type, in theory it's probably an hour-ish job with two folks. I will not tell you how long it took me. (I have a wheel, therefore the mechanisms with that require you to know how it comes apart so alignment is easier.) If you're a tiller, it's probably much easier... but that I've not seen.
Find a small adult, be sure to put some blocks under the rudder to relieve pressure as you unbolt, and pay close attention to how things come apart. BTW, I was down at my boat today, my spacer is probably no more than 1/8" thick and barely larger diameter hole than the shaft. Hope that helps. Good luck.
DAS