I think there is enough of a sharp edge turn down on the washers to bite in a small fraction ( I orient them on purpose ) and as you say a good coat of varnish tends to lock it all in place anyway. My rods are plugged at each end with a wooden dowel to take the screw that holds it all together.
Mine has yet to move after 18 months and good deal of being carted around from Ob to workshop etc. I'd be more concerned with dimensional accuracy, even 'hard' wood has softer spots and a wider base minimises any movement later.
I like the recess idea though. Very secure as long as you can be accurate with the depth of the recesses. That might be in the next build if I ever build another one.
Cheers
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