A guided reamer (10) has a central cannulation (12, 12a) adapted to receive a drill pin (14) secured in a manner which is axially aligned with the stem (22) of the bulbus bone joint (20). The reamer (10)has a profile cutting form (24) with cutting teeth (40) formed therein for cutting a form of a defined profile. The reamer (10) has a circumferential rim (34) having rim cutting teeth (36) disposed to cut to an outside of the rim and an inside of the rim, having face cutting teeth (37) adapted to cut an annular channel into bone and a plurality of planing teeth (52) radially disposed on an internal surface adjacent an axial end boss (44). The cannulation (12, 12a) is supported at the apex of the cutting form (24) and is formed in a guide assembly (70, 70′) affixed to the apex. The guide assembly (70, 70′) is adapted for imparting rotation to the reamer (12). The reamer (10) is adapted to be supported by a cannulated reamer handle (74) having a bayonet locking device (76) capable of locking the handle (74) to the guide assembly (70, 70′) of the cannulated reamer (10) and a corresponding central cannulation (86), permitting the drill pin (14) to pass at least part way therethrough.