Wades extruder without the hobbed bolt? (2 replies)

I was just wondering if it would be possible to add a rubber ring (something like this: [2.imimg.com], but the right sive of course) over the M8 bolt and have that sit tight against the 608 on the other side? Has anyone else looked into this??? As for availability, I have a few I pulled out an old printer, same concept there, the printer pulled paper through with the rubber rings and bearings.
What do you guys think??