This is what I did for both my 5.5SL's. Some other guys in New England adopted this method for their 6.0's (I think)
Essentially, I replaced the welded toggle to a more common toggle bolt. You need to buy a new stainless steel rod as the old one will not be long enough, and thread the ends for the bronze toggle (just as strong as the stainless but won't ever crack from stress corrosion which is a stainless steel phenomenon - doesn't happen to bronze) A new rod is only $10 or so from McMaster.com. and West Marine sells the toggles (you'll throw away the "bolt" part since you'll be using the rod as the "bolt"). I also removed the caps, glued them back in, and added an extra rivet on the underside.
