Do you lose the tie down? Yes and no. Let me explain;
the bracket for the swing case is actually cut out to fit around the tie down:
so its still there and useable, however when you close the case and lock it;
it gets covered up. so you can still use it but you just have to lift the case off the frame (Very easy to do, just lift up and the frame stays in place, and store the case in the truck or somewhere else untill you can install it again)
I however love the swing case. I have some tools, straps, chains, and all my hitch equipment stored in there, alone with some other small random things.
Since it was dark I couldnt get the best of pictures for you, so I hope there good enough!
I do like the swing case and since its so easy to pull off if needed, I recommend them! if you have any other questions let me know. Im a truck driver and about to leave for the week, so I wont be able to look at it in person, but I should be able to answer your questions. Heres another day time overall picture, showing about where it sits.