Jak,
Chafe is a major issue with bobstays. You'll often see chain bobstays where wire would suffice (strength-wise) for just this reason. Anchor rodes, floating debris, docks, dinghies, etc., will all likely be found chafing away at your bobstay at one time or another. For the same reason, i think rod bobstays are a bad idea too; with no resilience, the inevitable impacts are bound to severly stress the metal.
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