Exactly! I had the exact same problem, considered hydraulic steering, but, it wasnt going to stop, or prevent a leak. Switched to a new JR Marine SS swivel pin and seal along with a new Transom Ring, it wasnt cheap, but, nowhere near 4g's! What REALLY adds up in small boats like mine is having to tear the back seat out and the other "grunt" work. Like many things the actual
"repair" was pretty simple and not real time consuming, its GETTING to the damn thing that takes time and/or $$$$

I would change the ring, pin and seal, hard to pit a price tag on peace of mind (-:

Michael