For shafts, the answer for me is Dynel sleeve.http://sweetcomposites.com/Polyester.html
Slip it on, tape the ends down, soak well with epoxy resin, after hard sand it to remove fuzz. Easy...and lasts nearly forever.
I think Walbridge has a short description of its use in Boat Builder's Manual
(look for a copy at your favorite out-of-print on-line source). I would suggest doing a practice run on scrap shaft material; the trick is to get the right amount of epoxy into the Dynel so the epoxy soaks into the wood.