I understand you are talking about the choke cable located in your dash, and you want to remove it. Have you tried a rust buster like PB Blaster? I would try to see if I could loosen it up before I started drilling. I don't know if it is a notched escutcheon or not; ie, is the whole in you dash round, or does it have a notch in it that the cable slides into?
Some things to consider before bringing out the hardware, IMO.

~ Victor
1941 3/4-Ton Pickup (in process). Read about it in the DITY Gallery
1955 Grumman Kurbside "Doughboy" 235/3 on tree w/ OD
1957 3100 - moved on
1959 C4500 Short Bus "Magic Bus" - moved on
1959 G3800 1 Ton Dually "Chief" - moved on
1958 C4400 Viking "Thor" ~ moved on to fellow Bolter