I think it's your best option. Do you have a drill press with a true running chuck and a good vise that will clamp to the table? If so, I could send you an inexpensive brass jig for shipping cost that will place evenly spaced holes on the circumference. Use the solid end of a 1/16 or 3/64 drill bit to make your adjustments and buy a 1/16 or 3/64 spotting drill for drilling the holes. You need skills for drilling small holes too.Yeah for a couple of rickety old screws! Lol