Maybe no one (yet) has an answer...
I do not believe that Ed's post was deleted. Here it is:
http://www.ericsonyachts.org/infoexchange/showthread.php?t=4725&referrerid=28
As to the subject of rudder stuffing boxes, Ericsons and Olsons (like mine) have 'em, and I suspect that most us try to ignore it as long as possible.
They seem to go for years (decades?) without service, and more to the point they are in a part of our boats best accessed by energetic midgets.
I have made my slow way back into the stern sections of our boat for several projects, and each time I think about adjusting the stuffing box, I decide that another time might be better to try to futz with it!
On my boat, the radial drive for the cable steering is right on top of this bronze device. The "box" itself is tensioned with 3 or 4 (I forget the number at the moment) hex head bolts on lock washers to make them stay where you turn them to.
I have no leaks there, and have tightened and loosened those bolts a bit, several years ago, to see if that would make some of the friction in the steering system go away. It did not.
Perhaps someone here has some hands-on experience with this part of their Ericson or Olson. One other caveat: the box on the 32-2 and 32-3 may or may not be similar... what with a potential of a decade or more separating their production and factory sourcing of these parts.
Keep us posted, and if at all possible put up some pictures of the secretive little critter. I find that for that area of the boat, I have had good luck with photographs by proping a portable light in the area for ambient light, to give the camera autofocus something to "see." Then I reach in with my digital camera and take several shots with the flash.
There's a picture of mine, barely, in this steering-related thread--
http://www.ericsonyachts.org/infoexchange/showthread.php?t=3473&highlight=YS+cables
Best of luck,
Loren in Portland, OR