Weight being a key factor for multi-tools a big manufacturer like Leatherman has most likely spent quite a bit of time on reducing it where possible already. I think it is fair to assume that the thickness of the metal in question have been chosen carefully during the design to cater for normal use and abuse. Thus chances are that there aren't all that much to go on with regards to the normally required stiffness and strength. If you can accept a weakened tool, especially when twisting, then that is fine of course.
That said normal plier scenarios are somewhat less about twisting, and more about pushing the handles together. The sides have likely been kept whole due to design/ look considerations (over likely minor weight savings) so there might be an opening for some holes.
Round openings are less likely to create stresspoints, and you want to have them roughly along the middle but somewhat closer to the side where the handle is folded over and has more metal. (I guess your drill press will make almost round holes anyway
)
You might want to take it gradually by starting with small holes and increasing if it still feels sturdy. (Just in case you don't know: Most normal stainless steels will work harden very quickly; thus for drilling make sure the drill bites into the metal for every turn. If it ends up grinding instead you'll quickly have a very hard surface to argue with. (Ie. use slow speed and high pressure).
Oh, and in case this should turn out horribly then I've never said this, and I take no responsibilty for what I haven't said.
« Last Edit: June 28, 2017, 02:50:14 AM by Vidar »
"Simple is hard"
"Hard is hard too"
(Partial disclosure: I design tools for a living).
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