Ok, i don't think it would be wise to make a centering shaft coupling, because M5 rod, thread usually "leans" at some direction. thread on the rod is not centered anyway.
I'm thinking of using shaft coupler to mitigate this leaning. Ie, thread leans to left -> coupler moves it to right.
I've already seen some improvement on the quality by adjusting the shaft couplers as mirrors to each other.
Ie, left coupler has screws pointing left and the right coupler has screws pointing right. Threaded rods are forced to lean opposite directions.
Just one problem. How do i find out which way the threads are leaning on a rod?

(Just to make it more accurate)
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Still thinking of using Long M5 nuts on X-axis.
I have a feeling they wont wobble as much as normal M5 nut does and still rotate freely.