The N206 supernova remnant (SNR) in the Large Magellanic Cloud (LMC) has long been considered a prototypical "mixed morphology" SNR. Recent observations, however, have added a new twist to this familiar plot: an elongated, radially-oriented radio feature seen in projection against the SNR face. Utilizing the high resolution and sensitivity available with the Hubble Space Telescope, Chandra, and XMM-Newton, we have obtained optical emission-line images and spatially resolved X-ray spectral maps for this intriguing SNR. Our findings present the SNR itself as a remnant in the mid to late stages of its evolution. X-ray emission associated with the radio "linear feature" strongly suggests it to be a pulsar-wind nebula (PWN). A small X-ray knot is discovered at the outer tip of this feature. The feature's elongated morphology and the surrounding wedge-shaped X-ray enhancement strongly suggest a bow-shock PWN structure. ; Comment: 41 pages including 7 figures, accepted for publication by the Astrophysical Journal