Can't emphasise enough about what Scotty says about drilling the fairings in reverse, and I know it doesn't matter from which side you start from but I would advise from the inside (just in case the worse happens and the drill slips...and I have seen it when the worst happens ;D)
With regards to the fitting of the crash bungs, do not over tighten the bolts. The bung bolts do not require the same torque as the OE engine bolts....well...I'm speaking R&G here. Over tighten the bolts and they will lose flex and will simply just snap off after any decent off.