Some piloted joints (i.e., just brass inserts) don't mate up and don't seem to have any mechanical purpose other than provide a longer thread count. Other piloted joints provide a compression fit and it does add some structural integrity and improved feel.
As shown below, many cue makers built 5/16X14 piloted joints with just a brass insert. IMO, I would try to find those that have 1/4" or so of wood for the pilot, with just a brass cap. For example, Mottey, Black, Old Scruggs, etc have these types of piloted joints. The wood in the pilot gives a compression fit and (some say) better feel/feedback.
Here are some examples of the different pilots I've come across:
On this shaft, the insert is rounded, but there isn't alot of brass showing (but there is some wood showing)
On this shaft, the insert is rounded, but there is MORE brass showing (but there is still some wood showing)
On this shaft, there is almost NO wood showing, and only the insert is showing (but it's not rounded)
brass inserts only
An example of piloted joint:
Again (just the butt)
-td