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Old 08-13-2006
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Anhydrous lanolin is very viscous, sticky stuff. Lanocote is the commercial version that has some additives to give it better protective properties, but neither is likely to wash away, especially in a very tight area, like the keyway on a steering pedestal.

While I don't know if it would last 10 years, a decade is an awfully long time to go without disassembling and inspecting a piece of gear, especially one as important as the steering system on a boat. But YMMV... if you are willing to risk your steering system failing in a storm, be my guest.
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You know what the first rule of sailing is? ...Love. You can learn all the math in the 'verse, but you take
a boat to the sea you don't love, she'll shake you off just as sure as the turning of the worlds. Love keeps
her going when she oughta fall down, tells you she's hurting 'fore she keens. Makes her a home.

—Cpt. Mal Reynolds, Serenity (edited)

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