Why pins?

Not always.
I really wanted to make "no pin" small kitchen knives because of the clean slick look, and gave it up because the epoxy would eventually shear at the "window" in the tang, if the epoxy didn't thoroughly bond and any rust and crud started building up...the wood starts moving and the steel starts to corrode, and that's it.
Look at the old knives in your drawer- all the ones we've had since starting a family have a gap between the wood and the steel, as Stacy says.
Good point about getting it clean, but musical instruments are a different case: you aren't gluing wood to steel and then washing it a zillion times.
 
....... I have 20 + year old joints with 5 min epoxy in musical instruments that have had exposure to heat and cold on the road, tension from strings, shock from drops and falling amplifiers etc.

There is seldom any problem bonding wood to wood. Wood/micarta/ivory bonded to hardened metal is anohter thing. As you point out, prep is very important.
 
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