We've been drilling centerlinks and steering shafts for close to 40 years...
Number of Failures over that time frame... ZERO!
Wait one did break... when the car slammed the wall at about 135 mph from a lost engine. The link had zero to do with the accident.
You have to use your brain when you do this and not go hog wild with a bit. The factory stuff is over-engineered. Couple of the guys that did this are/were structural and mechanical engineers. There are holes already in a steering shaft.
You can also swiss cheese a k-frame pretty good too.
Guess people better not run gun drilled axles either. You're removing weight from those and that for the big hp stuff.
He asked for suggestions on how to save weight, he's got a few. Whether you choose to do them is personal choice.
That car I included pics of earlier has both the steering stuff lightened.