Being left handed, you would want the pin on the right side and below your thumb. As far as "how far" below the thumb should the pin be located, the "rule of thumb" is that a line between the pin and your PAP should be located at least 1.5" below the bottom edge of the back of your thumb hole. As to "how far right" of the thumb, the measure there is the distance from your pin to the negative axis point (opposite from your PAP). I have a ball layed out with a 4.5" pin to neg axis point, and love the reaction. If you are a higher rev player, or are using it on drier conditions, you might want to go with a little longer pin distance... The location of your PAP (along with the pin out distance of the ball) will determine how short of a pin to negative axis point distance you can use. I found that anything less than a 4" pin to NAP distance wouldn't allow me to get the 1.5" clearance required for this layout.
As far as static weights, I would say drill the fingers a little shallower than normal and the thumb regular. Before bevelling etc., weigh the ball. If it has too much thumb, just make the hole a little deeper to get it back to legal.
I really like this layout...
Good luck,
S^2
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Strapper SquaredPSU Football 05