I'd recommend using the "plus flush" grommet in the 4002 series. Trivial installation vs. an odd-angle countersink of a big hole through way too thin fiberglass for flush grommets.
I just ordered a batch for a second RV-7. The stud length depends on the total grip required. I'm using .04 metal, the cowl's nominally .06, adding up to a -3 stud. Stainless all the way with no plans to paint; phillips recess studs. Spruce catalog has all the data you need to noodle out your part numbers. I ordered: 214-16N receptacle, 4002-NS grommet, 40G26-1 retaining ring, 40S5-3S stud. Thirteen do for the upper cowl-firewall. Skybolts are more expensive same functionality as Camloc.
Hinges work great along the cowl seam and the lower cowl-firewall side joint. Bottom cowl-firewall has a history of breaking hinges. There I used five #8's each side into 1/16 aluminum brackets riveted to the firewall. 200 hours and nary a crack/wear.
John Siebold