There's this line that goes: "All along the watchtower, princes kept the view." Right?
Well let us look at the watchtower. There is only one piece remotely close to the watchtower on a7: the pawn on b6. So this must then be a prince. However, we know that this pawn can promote to a queen, but not to a king. This leads me to the conclusion that the pawn is in fact a princess, not a prince; the line would then go: "all along the watchtower, princess kept the view." This makes even more sense when we remind ourselves that there is only one pawn around, so "princes" is impossible in this position.
There can be a debate whether the princess is just a princess or is actually called "Princess", but this is something I will think about tomorrow.
I also have a conspiracy theory where he is a CIA agent and George Harrison is an MI6 agent and they conspire to make Dylan the 5th Beatle to improve relations between USA and UK in the cold war, but this failed because McCartney was afraid of Dylans songwriting capabilities. In the end Dylan and Harrison made the traveling Wilburys, which therefore is actually the Beatles how they should be. I can produce like 20 pages worth of proof for my theory; I may make a post about it someday.