I think that's a good approach, Derek. Make the loose tenons so that they provide maximum benefit relative to the (extreme) forces that come into play on a chair. I'm sure you've done this, but take sample tenons with both grain orientations and stick them into the mortise. Then sit there are stare at them, visualizing how someone sitting their (impressive) butt in the chair will affect the forces on those tenons holding things together. The mind is a great tool to visualize this.
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The most expensive tool is the one you buy "cheaply" and often...