Jez, someone really didn't care to spend that 25c on a new rubber tip for the shooter rod did they!
You can get new ones here.
http://www.bestofpinball.de/catalog/product_info.php/cPath/41/products_id/8945Though I haven't fully started on the resto of this machine, I've done a couple of things just to make it a better player before I get going. Here's a pic of the new shooter rod on my machine
If you see them on eBay don't buy them. I did and there to short. The best of pinball ones are the right length though.