Guys,

If the OP is talking about drilling holes himself, I'm guessing it ain't Masi he's tapping.

In any case, I don't think the OP had brazing fittings on and repainting in mind.

I hat to see anyone drill any old frame, if they aren't a builder. I wouldn't drill a Schwinn Colliegiate, for xxxxxsakes.

There are many alternatives for fenders/bottles besides drilling holes, which is what the OP asked about in the first place!

Sorry for ranting, long day.