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I would say just use the center punch idea. Peen the edges in about 4 spots. The dowel won't come out and the nice thing is you don't have to worry about how to get it out you just file the peens off and the dowel will come out. Then you can just repeen the hole. Another alternative is to use something called a taper pin. It's a dowel pin with a taper. You have to get a special reamer to use one but they hold great. Sometimes to well. Tapers are a great friction holding device. You can also use loctite just use the right kind. Sometimes it helps if you grind a little flat on the pin just in case your hole is to close to the size of the pin. You need so much clearance for loctite to work right. I can't remember what it is but if you don't have it all the locktite gets squished out. Another trick it to make your hole smaller. You take a ball bearing and place it over the hole and hit it with a hamer it with mushroom the hole over on all the sides uniformly so the dowel will still be centered.
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