Just hack sawed off cable stops.
 

Did a little sanding and now what kind of paint should I use? Took me about 3 minutes for each cable stop, one definitely wasn't a clean cut, I did the job really tipsy off beer. It's a SE Lager frame, I have an upward slope on one cut, I am assuming I am a centimeter away from putting a hole in the top tube.

first bondo to get it even
http://www.duplicolor.com/products/metalspecks.html

Your tubing is not even 1cm thick

It's a Lager man, who cares? Duct tape her up and call it good.

Are you jealous that he has a bike he likes on the cheap?
Whats your problem?

i considered doing that too my mark v after i cut myself when i picked up bike. never really had the time to get around to doing it.

Seriously? Considering how I remember some of your old posts going, i'd think you'd be able to pick up on sarcasm on here. Guess i was wrong.

its not easy.

speak of the devil!

Try not even 1 mm thick. 1 cm thick tubing would be pretty damn beefy. They might use that in water mains and other high pressure, high volume applications.

And being 1 cm away from putting a hole in the tube means you also missed cutting off the cable stop.

Chuck that bike into the river.

I think we need a pic of the damage..

edited.

Wow... why would you say something like that?
Oh right, you ride a colagno conversion.
Thats wicked dude!
Why dont you throw your computer in the river?
Dude probably really likes his bike, and you want to be all jerky about it.
Cut it out.

oooooo....or what?
He border line put a hole in his top tube when he was "tipsy". Whotdaya want huh? He could of at least been blind stnikin' drunk & taken off the top his finger, now that would've been interesting, & maybe worth defending. Go find another battle you can turn into a war & beat your chest elsewhere.

post a picture. If you damaged the tube badly near the head tube there could be a concern.

did you cut off the derailleur hanger?

as far as paint go, there are plenty of posts on painting bikes. The best way is having it professionally done, but this costs lots of $. hand sanding to remove loose old paint, and scuff up the rest, then good, quality automotive touch up spray paint, multiple coats, then a hard, durable clear coat. Good Luck!

Then there is powder coat...

sawdust & spit for the hole. a marker to cover it up ;-)

It's single speed frame so no derailleur hanger. Say if I did put a hole in the top tube, what kind of problems would I be looking at? Loss of stability?

I saw a bike on velospace.org that had a similar issue - the person had sawn off the lever bosses and the frame eventually snapped - depends on how bad the damage is I guess - who knows really. post some pics

jet prolly haS more bikes than you can count.
Why don't you throw your studio in the river?
Cut it out.
Fiery Furnaces is wack!

I am SO GLAD that riding a bike doesnt make me hate other bikers!
Yes, Fiery Furnaces is wack.

The highest stress points in a frame are at the connections, or end of the tubes. A hole near a high stress area acts as a stress riser. in other words, when the steel is stressed, around the hole has higher stress, so its more likely to fail.

Depending on the size of the hole, and where it is may mean an un-safe frame. truthfully, I don't think I would ride a frame with any holes in it except for the holes the builder intentially put there (the vent holes)

you'll need a few different grits of paper and maybe a nice dremel head tool... then body filler for building with some wet sanding... i've worked on cars though, never bikes