Walt, having just done that this past spring, I can tell you a little. I have the O-360 with C/S, so I can't speak to similarities to the other cases/cranks.
On mine, in order to get a straight shot with the drill, I had to remove one of the threaded bushing in the crankshaft flange. This was not difficult, I used a grade 8 bolt, some steel bars and a large C-clamp. Without removing the bushing, it would not have been possible. I taped the Lightspeed pickup plate in place, and using a transfer punch, put a good centerpunch drill starter dent in one of the holes. I then removed the bracket, drilled and tapped one hole. I believe the instructions state how deep to drill. Use a good quality plug tap. Use plenty of oil, and take your time. Protect the recess where the crankshaft seal is from chips. Once one hole was tapped, I bolted the bracket back on, center punched the rest and drilled/tapped.
I'd send the ring gear assembly to Klaus for drilling and fitting the magnets, as some need a little fill welding.
Good luck!