There will be no interference with brake hardware from the slightly less than 1/8" outboard position bolt heads on the lowers (the uppers didn't need anything done to them. Those holes are 7/16").
I was not comfortable with the thought of drilling the steering arms and the steering knuckles because of concerns with ending up with imprecise position and hole size. All of those parts are awkwardly shaped and difficult to secure in a drill press.
Welding the plates over the 1/2" holes and drilling them to 7/16" went very well.
Carl