Good question,
I did drill a ¼″ hole in the back of compartment #2, directly in line with the back plate screw of the lock housing. I have not fixed the hole yet, but I am a welder by trade, so If the the safe does sell, I planned on filling the hole with a solide carbide ¼″ drill bit(the exact same ones used for drilling the hole), about ⅜″ shorter than the depth of the hole and welding up the outside and inside 3/16″ with silicon bronze (Nascar tube frame weld material). This is about a 20 minute job, and it will not detract from the security, or the cosmetic condition of the safe whatsoever. You are correct, the safe is so old there is no insurance ramification, and the drilled spot will be more secure after this procedure then it was to begin with.
Funny thing, this safe is two layers of ½″ steel on all surfaces, the first ½″ is mild steel, took 5 mins, the last ½″ was armor plate. It took $120 dollars in solid carbide drills, including special armor plate drills, and over 3 hours of drilling to get through it.
Thanks for checking it out, sorry i didn’t explain the hole repair earlier.
Tim