Actually the pillar bore should be 5/16" or a bit more for screw shank clearance. You don't want the screw(s) playing recoil lug, it can be a good accuracy killer.
When I make pillars I purposely drill them out small using either a letter D or 1/4" depending on the screw's major diameter I'm using to attach them when gluing them in. After the goop has cured I'll open them to 5/16". Oh BTW, attaching them to the action eliminates any misalignment issues and the need to Rube Goldberg them afterward.
Bill
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