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Edson makes a tiller arm that requires a single hole to be drilled through the rudder post. It takes a little time, but if you use a ''split point'' drill bit and low rpm on the drill, you can certainly do it. The bits are designed for metal, particularly stainless steel.

Bits can be found on mcmaster.com if you have trouble finding them in your area. I believe a split point has 135 degree tip angle.