I personally would be very wary or 1" emt conduit. It's thin walled, and designed to bend. If you load it under compression I don't see how it wouldn't bend.
I'd get 1" galvanized or black pipe:
http://www.homedepot.com/p/1-in-x-10...00HC/100535170 use a threaded coupler and reinforce the joint inside with narrow diameter tube, or hardwood dowel.
The pressure on the top bar is minimal shear at the ends, with most weight pulling down and in. I don't think there's any worry there. With two lengths of conduit meeting in the middle of the span, the leverage there is overwhelming and therefore, shear minimal. Not my idea anyway, its what TATO uses. I've got one and its clearly strong enough...
Edit: ahh yes. The fence rails are good to!
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