Just replaced this assembly on my '81 220 Bimini. You're correct, the bow tow eye is connected to the anchor horn via the 5/8" SS threaded rod. On mine, the piece that the rod threaded into on the inside of the bow eye was made of regular steel (not SS) and totally disintegrated. Fortunately, I was able to find the newer SS version of these parts at a local boat salvage yard (Budget Boats, Chesapeake, VA) so was able to simply replace the bow eye, backing and the connecting assembly which the threaded rod from the anchor horn screws into. This was a case of the fix becoming very simple once the right parts were located. I could try to get my camera in there for a pic if you need. Let me know. John