Getting a shaft to fit properly in the track is one of the most aggravating parts of building a gun for me. Nto because it is hard, but because I always want it to be "just right". The problem, of course, is that "just right" only applies under one specific combination of circumstances. Throw in a smaller shaft, or some sand, or another coat of epoxy, or an imperfect shaft, or whatever, and the fit changes. I guess what I have learned is that this is one of those places where a speargun builder has to set aside any precision tendencies and be OK with a little slop. So far as I can tell, shooting my 9/32" shaft works fine in my 5/16" gun. Sure, it rattles around uncomfortably when it is unloaded and sitting on the bench. But load a band or two and it's fine.
So if it's me, I would cut the track for a 5/16" shaft, and feel perfectly comfortable shooting a 9/32" or anything in between. Just be sure not to cut it too deep, so that the shark tabs (or pins, or whatever) stick up high enough.
An for what it's worth, Bob White at SFS Carbide can modify my cutter drawings to make you any size you want, if you have something specific in mind.
i actually think that when it comes to tracks looser(within reason) is better . a perfect fit can cause problems . when it comes to this part of the build think ak47 not m16 . it has to work with grit and sand in it and work every time
phil