I wouldn't doubt that it's the real deal.I now have two bows signed by Fred to his good friend Basil Hughes,and have seen two others besides yours signed to him.I have the beutiful '55 Kodiak that you mentioned that Fred signed to him and dated the bow 1955,and recently aquired a 1966 Grizzly signed and dated 1966.One other bow I have seen is a Kodiak Magnum,and when I bought my '55 Kodiak many years ago I seem to remember another bow signed to Basil by Fred as being a 1970ish Super Kodiak.
Basil Hughes was I believe a Conservation Officer in Michigan and hunted with Fred at Grousehaven.He may have had something to do with Fred being introduced to either Bill Boyer,the owner of Grousehaven or T.V. personality Arthur Godfrey.Basil can be seen in the one photo on pg. 168 in the Fred Bear biography book by Charlie Kroll of Fred Bear,Arthur Godfrey,Bill Boyer,and General Curtis LeMay at Grousehaven.
He must have been a good friend of Fred's 'cuz it seems Fred gave him alot of bows.