I did a similar job on both my old CX's that had this trailing arm design.
The position of the hole isn't critical it's more a case of access for your drill.
Just make sure the drill bit is lined up to point to the centre line of the bearing tube.
I didn't bother with nipples, just got a grease fitting for the gun with a pointed end that fitted into the small diameter hole I had drilled, although a nipple would have been better.
As long as there is no play in your existing arm it will make them last the life of the rest of the car.
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