It sounds like a Uniglide hub. The "arrows" aren't the unscrewing direction but probably the markers for the "indexing" direction. Some cogs may actually say "Index" on them. Oh, wait, 1984 was before indexing. So the arrow is just a marker to indicate which way to install the cog. But since the Uniglide freehub splines are completely symmetrical and the Uniglide twist tooth design is too, technically you can flip the cogs over (except for the cogs with built-in spacers) and get twice the life out of them.
Uniglide freehubs have been around since 5-speed days and Shimano made both cassette hubs and freewheel hubs for quite a while. Back in the 80's, bikes were often a mix of components. For example, in 1986 my brother bought a Trek 1500 with Shimano 600 brakes, shifters, and derailers, but Specialized cranks and hubs. Since it didn't come with Shimano hubs, the rear cogs were a Shimano 600 freewheel rather than a cassette.
Last edited by Gonzo Bob; 04-24-06 at 10:47 AM.