who thinks this will work?

Looks a little sketchy , wonder if your local tire guy could rig it up on a wheel balancer to test it ?

You can't balance that flywheel because "as drilled" it is DESIGNED to be out of balance.

I don't believe in this business of "do it yourself" TQ and flywheel balancing. I'm sure the factory stuff was "bad enough"

Years and years ago when Traco was big in Chivvy 302s (Z-28) I asked them how close those engines were balanced.

My foggy mind remembers something around 1/4-1/2 a gram. That ain't much.