Yes Bodi the little cover does still work and everything looks like its in tip top condition.
When you say a stuck locking pin, I assume you mean the pin that is on the end of the lock and is designed to push up and through the lower triple tree? If so that pin is not stuck or rusted on. I can see its loose in its hole and will move up and down a millimeter or two but not enough to make it lock onto the steering stops on the frame.
I have sprayed into the lock with the little red tube and some wd40 to no avail.
The fact that the key wont go all the way in makes me suspect there is something in the lock(maybe bit of old key?)
MCRider,perhaps some sort of dental pick might be the go.
I know the steering lock is not going to stop the nasty determined thieves but it might stop the opportunist from wheeling your bike away while you have ducked into a shop for a few minutes, so it'd be nice to get it working.