That ball was originally a very strong oiler. So it was probably used on good deal of oil regularly. Unless you knew the person using it, my first course of action before trying drillings and surfaces would have been to do an oil extraction.
Another item is while this ball was intended for use on heavier oil, it was never a huge hooking ball. So that tells me one, be careful on how much oil you use it, and, two, be careful with which surface you do use. Normal cautions apply: if you use too much surface on too little oil, the ball will hook less than expected. If you use too little surface on too much oil, it will also hook too little and have no power.
A weight hole above your PAP usually reduces flare, and thus overall hook. I wouldn't try one unless you've already tried the ball and want it to hook less. Don't put a weight hole on the ball until you've tried it as it is drilled.