I dont believe the key in a Wilton is designed to shear. It is a little too substantial for that. It is also as long as the jaw opening. Not that an enterprising idiot couldnt do that, if, that was his actual goal. The slop is minimal in a round bar, and Im guessing that is why Wilton builds them that way. None of the square bar vises are as snug, moving in and out.
I do believe many vises end up getting put to uses that they are too small to be expected to do. You should buy one bigger than you think you will need, same as your gun safe, or, air compressor. If you are going to pound on a vise, you really need a post vise, or, an anvil. The anvil on most vises is there to do light straightening, or to separates parts that are interference fit with a love tap or two.
What surprised me this week was not what is not available, but, what still is. You can buy a new US made post vise, a new welders vise, or, an anvil from Milwaukee Tool and Equipment. They have an anvil that weighs 500 pounds, if you need a big one. Brand, spanking, new. The offset engineers vise that was cataloged by Wilton until 2004 (think Salvador Dali designs a vise) is still produced by Dawn in Australia, who can also supply you with a stainless steel vise, or, a forged steel vise. Or, heaven forbid, a vise warranted to be unbreakable.
Most guys buy used, however. Vises, as a rule of thumb, last more than a lifetime.

Best,
Ted