X2 This is the way to go. JMO.Don't drill holes at all: My bodyman likes to cut the posts off the rear of the emblems and substitute automotive grade double back tape (just like current factory installs). If it's wrong (like getting the S upside down) there are no oops holes to fill. I've never had any problems with the emblems coming off. It's a win-win.
Yup.And I'll add again some 3m strip caulk on the studs before you tork em.I have a fender emblem template for 70-72 and 69 SS cars that I use. Drill an 1/8" pilot holes using the template, then use a small round file to tailor the holes to the emblem. Works great! Also do it BEFORE the car is painted if possible.