I got a shaft shooter (3river)for Christmas this last year. So far I've made, probably, 5 dozen shafts. Once you get the speed on your drill vs. the speed you feed it through right it's pretty awesome! I've messed with the adjustments a little to try down-sizing the diameter but I ended up just putting it back where it was. It comes set for 23/64, which is where I've had it for most all the shafts I've done. You can get a 5/16ths adaptor for it but, like the machine itself, is stink'n expensive!!!
I've done lots of Douglas Fir and a little bubinga, hickory, and purple heart.
I don't know anything about the Veritas....