That looks pretty good. Look what you can do with chunky bar stock LOL. Consider drilling dowel pin holes which do primary alignment & provide rigidity. The recessed bolts or whatever basically provide retention but alignment can get loosey-goosey with fasteners only due to thread hole clearance. I've also seen some fixtures put together with dowels or even roll pins as temporary fixturing if the the plan was to weld and/or re-machine certain surfaces post welding if dimensions are more critical. Depending on how concentrically accurate your holes need to be, maybe consider doing that op on the finished assembly rather than risk misalignment unless you have other ways to fudge whatever is going into the holes.