Tom,
You've got some solid advise on your question from these guys. Prior to building I studied lot's of builder sites myself and was concerned about this area.
When I started laying up parts and pieces prior to cutting and drilling, it started to all make sense in my world.
I think all the above posts really cover the drilling portion to your question.
You mentioned edge distance, so I'll show you what I did to obtain maximum ED on the 404 tabs.
I measured and lightly marked the 404 rear flange tabs for cut out as the plans call for. Then I just set that rib up to the front spar in it's proper location and remarked it so it would just barely fit in between the HS 810 and HS 814.

The photo above doesn't show the light marks that were called out by the plans, but the blue marks which I eyeballed while holding the rib up to the spar gives you much more material (top to bottom) to drill through, and keeps your rivet hole that much farther from the top and bottom edges.
After the rear flange is rough cut to the eyeballed marks, I filed it to size until it fit between the HS 810 & 814.
Once it fits up against the spar, edge finishing deburring.......
Then it's in from the back side
And out through the front side

I would have liked the holes through the HS 810 & 814 to be a little farther from the edges.

But as you can see, it's a give and take between the HS 405 on the back side of the spar, and the HS 810/814 on the front.
Good luck. It wasn't as bad as I made it out to be in my mind when reading all the sites. It just kind of all comes together when you actually have the parts in your hands and begin assembling.
Tom