This is coming along fine Dave, it's shaping up quite nicely. Must be fun using the various hand tools you've mentioned, like the spoke shave, carving knife, etc. That's something I've wanted to do, but my projects all made by family member's requests, only require the usual - hand & molding planes, at best.
I've never required the need for a cane, but my two cents for what it's worth: regarding the question asked by Mr. Splinter, it would seem to me that the cane should be held with the hand centered over the shaft. This would reduce or eliminate the handle being pushed down on one side, thus this lever action might loosen the joint, or elongate the mortise. What do you think?