Dan - I think when he says a v-shaped base, he means something along the lines of the pic below. I've always called them "V-Blocks", but either way, their purpose is to make it easier to hold a round object securely while working it.
Yeah that.
Dan,
I always drill completely through the shaft. I flatten one end of the pin before inserting it in the hole from the bottom up then hammer the pin in place and grind/buff the end so that you can't tell the pin ever protruded. This way it ensures the pin will never come lose or shift under load. Hope this helps.