Julien,
I have made drains at the mast steps on all my boats, but I guess that is mainly because both my mast steps and masts used to be made of plywood and spruce. I don’t think an aluminium mast will corrode away, even if sitting in a puddle of water, in particular not if the mast tube (and step) has been anodised. My last two (lower part of the) masts has been of un-treated aluminium. Today I would recommend painting such masts with two-pot polyurethane paint (over etch-primer).
The un-treated aluminium leaves a line of black stain on the sail. In addition, my guess is that a painted mast is smoother, and thus reduces friction when hoisting and lowering the sail, so that is another reason for painting.
As for condensation on the alu. mast below deck. I haven’t noticed that, but I am sure, if I were to live on board and needed to heat the boat, the warmer, humid air would condensate on the cold mast. For that - but mainly for comfort reasons, I have insulated the mast with bubble plastic, a layer of PVC, and now finally, a knitted woollen coat.
Arne
PS: On my present boat I have (for the first time) strapped the mast to the mast step, both to prevent it from jumping out, and from rotating.
PPS: To avoid problems with noise or other problems in the mast step:
Could it be an idea to cut out a 2-4mm thick gasket from rubber, which fits exactly in the hole of the mast step? This should prevent metal-to-metal contact (= noise). I haven’t tried it myself...