I have always used square stock rather than dowels. I buy mine in blanks that are 1 1/2"x2 1/8" x 8". Generally the blanks are closer to 2 1/4" thick, so I can resaw and get 6 strikers blanks from a block that costs me a little less than $10 before shipping. I have minimal waste, which is what I like about the square blanks. I end up with a cut-off on each end of my striker that is about 1/4" long, which took some getting used to and a little more care.
I also mark center on my square blanks with the bandsaw and my rip fence. I put a + shaped cut on each end and predrill one end about 1/8" deep on the end that goes to the spur drive. This helps keep the dymondwood from splitting when you tighten the tailstock. The + cut on the ends help align center, and on the spur drive allows the teeth of the spur to go into the blank. It works great for me...