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I don't think you have a choice. I seem to remember that the snout was machined for a barstock key in the balancer area. However, the crank area of the snout was machined for the woodruff key. Also, your crank spacer should have a 1/4x1/4 slot as well.
Just as an aside, your balancer should not just slip on. It should be about a .001 interference fit. I got my balancer from Gessford and provided my crank snout measurements so that they could hone the ID of the balancer for an appropriate interference fit.
phil
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