I answered your post on the Catalina owner forum. I have a 24 and re-engineered the CB arrangment because i didn't have any of the original fixture and wasn't going to blow a bunch of money on an unnecessarily complicated design. If I had an inboard it would be a different story.
I installed a bronze thru hull through the top of the aft end of the board trunk put another in the cocpit and connected the 2 with a piece of Shieldsflex exhaust hose (tough hose with a S/S wire coil). I used a magnet to find how far down the board the steel (or iron) core went and then drill a hole in the trailing edge of the board where it lined up with my thru hull arrangment. Now I haul the board up with a 3/8" double braid line and it works fine. I can take pics of the inside the boat and cockpit arrangement if you like, but the boat's in the water so no pics of the CB work and I didn't take any when I did the job. Sorry.
What's up with the CB? If the core isn't all swelled up and the top is relatively intact, my option will work. If the core is swelled it can still be repaired.
Is the kick up your rudder? Oh, I see
http://sailboatdata.com/viewrecord.asp?class_id=280 it has a transome hung rudder. A C-22 rudder might fit as long as the head is the right lenght and the rudder itself is the right area. Might have to move one or both pintles.
Through one of the links on my reply to your other post you should be about to find another M-22 owner that could give you the specs on the rudder. I say that because if it wen't for the occasional tumble weed rolling by there isn't much activity on this Morgan forum.
I think the ports can be rebuilt. Plenty of guys here on SBO have done this on their boats. That brings up a good point, there is a ton of great experience and knowledge available here on SBO but you might have to ask on "trailor sailors" or "ask all sailors". Tap into the archieves too, BUNCH of info there. Go to search and then forums.
I'm happy to help if I can.