The background to this is that there is a leak around the threads where the inboard bearing screws onto the sterntube, caused by failure of the thread sealant. Whilst attending to this I have removed the shaft and I noticed the worn areas and decided to measure them.
Sorry twisterowner,Think I,m going mad forgot about the taper for the prop!!! Just been working all afternoon getting Xmas lights to work bl--dy frozen must have effected my brain!!
Get a quote for replacement it may be cheaper than you think. I replaced a 1" diameter shaft, 5' long 2 x tapers and keyways + thread on the prop end in 2003 for £110.00
Round steel is usually pretty close to nominal dimension as supplied, but often measures .0005" to .001" undersize. Your 7 thousandths wear is not much, and so long as it has not worn out of round, it should not be a problem. If there is appreciable slop in the bearings, they have probably worn more than the shaft. As an aside shafts should not be made from centreless ground stock, as this can often measure the correct diameter at all points yet be significantly out of round, leading to rapid wear. Such stock frequently has three lobes (in cross section) rather like the multi lobed 50 pence coin, Such a section can be measured with a micrometer at any position and give the same result, yet be quite triangular, to the detriment of the bearings.
If it does wear then you can fit one of those spacers at the flex coupling that lengthen the shaft for fitting a rope stripper (look at the Stripper/Spurs websites). You can then wear out a whole new section !!
Martin