I had a hard anodised dural pulley made. As suspected the anodising didn't last long but I have very little wear at 3000 miles. Still screams however. I have a steel one in the pipe line. As you say Morgan are testing steel and I'm sure it will cure the problems. Steel won't be cheap as the machining time is a factor.
I can occasionally be found rubbing the rear pulleys on Harley's when I see them parked up. I can confirm they suffer the same type of wear but not to the same degree.
