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Here is my method of making the pegs for my board.

DISCLAIMER: This is the way I did it. It is not the only way, or the right way...it is only my way.

First the items required:

3/4" schedule...

When you tighten the pegs, it stiffens the board.

Correct on both counts

No problems...I did what I thought would work best for me...I see no problems doing what you think is best for you.
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1x6x10' pine from the big box store. I tried to find one with fairly straight grain so the router would not try and follow the grain and go straight. I cut in in 2 pieces after routing the grooves.
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Duck

The nut is held in a threaded PVC plug that I turned to fit inside a piece of 3/4" PVC that is the actual post (Denny is right, the 3/4" PVC makes great posts). The nut is held in the...

Duck

I have had people request leaders as short as 24". I find it very useful.

My solution for allowing multiple positions of the pegs was to rout a 1/4" groove in the furling board. The T track was just too expensive for my taste. The groove cost me the price of a new router...