OK, thanks to all the responses and pictures. Lonnie, thanks for the link to the previous post. It was helpful. This post is long but please bear with me.
Here is my new "findings". After reading all the post I went back out with my camera and just held it "up and over" the "ledge" we keep talking about. As soon as I reviewed the picture I see the problem.
In the first picture below you can actually see the bolt/nut that some say you can't see or get to. Well, I didn't see it either till I held the camera up there.
As you can see, I drilled two hole horizontally. Half good half bad. The good part is that one hole is in the right place but the one toward the front bumper is not. I'm so ticked at myself.
This picture shows what appears to be where someone, years ago, must have tried to remove the mirror and twisted the bolt/screw into as you can still see the bolt and nut sticking through. This leads me to belief the nut is welded on or it would have fallen out when the bolt twisted into. I figure someone did that and just filled it in and painted over it as there was no holes in it when I got the panel. Although I'm sure the panel was 99.97% original someone could have done just what I mentioned and put the mirrors on the doors..One of the doors was a 50 so I can only guess what was done back in the day.
Here it the pic showing that elusive bolt.
http://i140.photobucket.com/albums/r19/LutherParris/52Panel/100_1394.jpgThis pic shows the holes I drilled. Looking at this pic the hole on the left if wrong...but the one on the right is correct.
http://i140.photobucket.com/albums/r19/LutherParris/52Panel/100_1395.jpgThe pic below shows the position the mirror is suppose to be and I do not like it that low and sticking out like this. I'm holding the mirrow with the top hole in mirror base over the top hole in the cowl which is the correct position.
http://i140.photobucket.com/albums/r19/LutherParris/52Panel/100_1396.jpgThis picture below shows how I'd like to put it on. I simply moved the base up to where the bottom hole of the base is in the top hole on cowl. NOTE: I like this position but not sure if the wing vent frame will block any view from the driver. I may use the one hole and temporarily use one bolt to hole it in place till I get my seats in.
NOTE: I think this is what others have done along the way and possibly explains, as I mentioned earlier, how I see the mirror in different positions on the trucks in the gallery. Mainly the two positions I'm holding it.
http://i140.photobucket.com/albums/r19/LutherParris/52Panel/100_1397.jpgThis picture below is of the PASSENGER side. I do not see that "lower" bolt hole as on the drivers side...SO, which holes get drilled out for the passenger side?
http://i140.photobucket.com/albums/r19/LutherParris/52Panel/100_1398.jpgThanks guys for being patient. Hope this also helps someone else.
.... and which holes get dilled for the passenger side?..the two that look Vertical like the driver side?