I’ve got to agree with Matt here – my only reservation about your new bolt, Anthony, would be the flat rubber washers.
I would be tempted to switch to a type more like a soft ‘O’ ring or doughnut washer (if you find any) which will progressively compress as you tighten the nut/bolt rather than the flat type which may have less give.
But the bottom line is whether it works, and you may be fine with the flat type. 🙂
DB