Hello, Sambaguy
I think, my opinion, that the round ones are early and later replaced with nut and bolt...
I see it in the first platce in economic way.
The nut and bolt could be taken from the shelf. The round part has to be made on a lath.
secondly, it more a mechaniker solution: to adjust the nut and bolt you have to use 2 wrenches, to adjust the round part you need a plier or a vise-grip.I do not see a flat part to hold the round part.
Maybe when dismantled it could be that on the side where it meets the frame, there are 2 flanges that fit in the slot from the frame part.
If that is the case, you have originals and with that thin slot, the flanges can be easy damadged caused by overturning when rust is there.
Think like the square bolts in a bumper...after a few years they easy break the corners out.
I should dismantle the round part to see what is on the side of the metal.
Greetings.
ZELENSIS, coachbuilt body from the 50's on a vw platform made in Belgium. Peter the heb detective