Instead of drilling the crank for a stock pilot bushing, I'd just use the later Magnum bearing. It fits right in the converter register.....no drilling needed.
Is this what you are talking about?
I had not considered this. So I don't need to cut or modify anything with this bearing? I just press it on to my current crank in the motor and I'm good to go? That would simplify this whole process a ton. 99% of the reason for pulling the engine apart was to drill the crank.