|I agree, the great thing about the 16 is its simplicity. The real skill comes down to the skipper and crew and not the boat, as shown at the 16 Worlds where all boats are provided and you change boats after every race - the good guy's still win.
If you look on a 2002 boat, you will see that they have addressed the rudder problem and there is next to no play and wear is also kept down as there is no metal on metal contact.
Keep the 16 as it is. Go get a Stealth or a dinghy if you want to pull bits of string!