The wear on such rudder bearings is usually due to abrasion between the SS shaft and the (usually delrin/acetal) bearing material. The surface roughness of the shaft abrades away the bearing material.
To reduce the bearing wear, the shaft area at the bearing should be polished to a mirror-like surface finish ... using emory/crocus cloth, followed by 'white metal' polishing compounds which are applied to a high speed fabric buffing 'wheel', etc.
Such replacement bearings (for ODays and Pearsons) are available from drmarine.com ... and you have to dig a large pit under the rudder, drop the rudder into the pit to be able to replace the bearing.
There are alternative (better than delrin) DIY made bearings (using WEST Epoxy + Carbon powder + chopped teflon dental floss) on the web .... do websearch for "Pearson 26 + rudder + bearing".
Std. delrin bearing replacement for O-27:
http://www.drmarine.com/products.asp?cat=196