After having done a fair bit of picture scouring in order to figure out the most accurate way to reproduce the 109's rivets (and subsequently re-doing my entire 109 template) I believe that the best way to do the rivets is to draw each rivet as a 1 pixel black dot and to either use a layer effect on it and give the dots an 'external glow' in white or duplicate the original layer of black dots and drop the duplicate (in white) underneath the black dots and use a small gaussian blur to bring a 'halo' effect out from beneath the black dots.
I believe Fencer uses a similar technique on his JG 11 K4.
The 109's rivets were depressed, not raised, and that black with a white border gives that 'sunken' visual effect.
The standard '1 black, 1 white side-by-side' gives a raised effect, suitable for other aircraft but not the 109.
I shall be re-doing my 190 template too, once I get around to it, and replacing the rivets on my A5 as they were done in the 'raised' style.
Some may disagree with the rivets being too subtle that way but that's how they were and that's what I'll be sticking to.
Furthermore, I believe it was common practice for ze Germans to apply a layer of filler and then remove the excess so if you wanted to get really pissy about it there wouldn't be very much at all in the way of visible rivets.