Hi
As I can tell you know some stuff about simple mechanics of materials but as I am sure you also know that just because you can't see any cracks forming doesn't mean that there is not yeilding occuring. In fact in most materials (exculding hardened materials which follow simple plastic deformation curve) will yeild to a great extent before catastrophic failure (complete failure meaning Er > Eu). If there is such stated holes there will be less deformation before ultimate failure. That being said if failure is do to a positive moment in the x direction there will be little differnce because of the small reduction in the I value due to the holes being on the nuetral axis. I hope that clear's up some of the points stated by some of the other members. Jay