I almost tried that (drill the hole in the backing plate)....
After 10 seconds of thought, I chickened out and pulled the hubs....
What do you do with the hole in the backing plate? I suppose you could get a rubber grommet thingy and plug it. Thought is that unplugged, you will get crap inside... potentially foul the emergency brake, etc... No???? I am no mechanic, but leaving a hole open concerns me. Any part numbers on plugs???
I think the tip would be GREAT for a single OEM stud replacement which are sized to fit perfectly with the hub, but I would NOT do it while swapping for ARP racing studs... I pounded the living daylights out of those studs to seat right on a vice, and there is no way I could have done it on the car. ;-( The ARPs will gall a little on the way in.