Jim: Think I said pretty much the same thing in my first post (except for mixing up the degree of point and nock taper, which I've since fixed).
The 5/16 inserts in an 11/32 ferrule represent an extreme example of the insert being recessed, but I'm inquisitive as to why you prefer the adaptor protruding,
If the arrow shaft diameter is flush with the back of the adaptor (where it's milled down to the post, the joint forming the weakest area), and the ferrule encloses that joint on a recessed adaptor, seems that would provide extra strength at the joint.
On the other hand, there is then a lip formed by the base of the ferrule around the arrow shaft, which doesn't look terribly good and would retard withdrawal from a target (or critter).