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Welcome Doug great goup of guys here and a wealth of information. Use the search button and you can learn more than you can possably take in. From a rookie also here are the answers to you question.
Drill Bit - Order from Mike at m & D's in Whareham only open on weekends now but there web site is capecodtackle.com he is a sponser on this site and can help you out. You will either need a 1/8" or most people use the 5/16" bit as the nose grommets fit in there. All the supplies that you will ever need are there just about.
Hook Eye's - make the hole slightly larger and use devcon 2 ton epoxy
Do a search on the site and you can find information on anything you want. If you search jigs you can find all sorts of ideas that will help you out on the thru drill thing. PM me and I'll send you a picture of my drill jig if you want but the same one is online here somewhere.
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