Head advice

Billet???

No
Grade 5 will do just fine.

I don't think he ment the attaching screws but the metal parts that go under the attaching screw that hold the shafts.

"Shaft hold downs" are stock in stamped steel while an upgrade would be billet aluminum. I'd do the billet myself. Overkill? Doesn't matter. There still inexpensive and far far superior over the stock part.