My arrow doesn't point anymore.  I don't guess I really need it, but it would help.  It's a Motorguide Pro 54lb thrust.  Also when you put it on 5 it will cut out.  Has anyone ever had any of these problems?  Advice?

Your switch that controls your speed might be going out, have a loose connection, or wires are shorted out.  Talk it apart and make sure it isn't any corrosion and make sure the connections are tight.  You could have a short making it cut out on you.  Mine burnt up once (wires melted together) and I could only go in reverse, I found the replacement part and it works like a champ now. 

I agree it sounds like the controller is giving you problems and if you take it apart you will most likely see the issue...If it happens to be corrosion on the contact pad you can clean it up with a soft brass brush and to keep it from coming back you can coat the contact's with die-electric grease.

Ok...well I went out and looked at the trolling motor.  I couldn't find anything that stood out about the cutting out issue, but I did fix the arrow problem.  Just FYI incase anyone else is having this problem.  I took out the three screws from the underside of the head.  It comes right off and you can see where the arrow has a small gear that comes down and meets a small plastic peice from the shaft.  A little epoxy and it's working like new.  Nothing to it.  Not sure what to make of the cutting out issue yet.  I turned my trolling motor on high and ran it for a while and it never cut out.  It only seems to do it while it is in the water.