Hi Brian, Bn Q sell bright bar which machines ok.
The flats, well there are different types, a sunken flat with sides is usually for key that sits in it, a flat that is not sunk would usually have a gib head key, so you could call it a gib head key flat!
You could also leave the shaft round and gently tighten your grub screw down, then take off you flywheel etc and drill a small dimple where the grub screw has left a mark. This would locate the grub screw and stop the wheel coming off. I like this on small items as the shaft fills the hole in the wheel and looks nice.
Brian