PEZBerg
Your pics tell a thousand words.
I agree with you use of a high tensile capscrew, my next suggestion would be to use a fine thread capscrew. Instead of the standard M8x1.25 pitch metric coarse pitch thread, go with a high tensile metric fine pitch M8 x 1.0 socket head capscrew. This will give more tightening power (mechanical advantage).
Also make sure the gap in the lever closes up enough to clamp the shaft securely without binding, going by the pic, it has ample clearence.
Although I see merrit in the "scotch key" method Stan S and Nathan S suggested, I would not like to see a perfectly good shaft bastardised if it was not absolutely necessary. In this case the shaft looks in good condition, so why bugger it. Think about the next owner.