pjr300,
If I might add my 2 cents -
That drilling basically makes your ball act as if it were 1 to 2 levels weaker than it is or if you had drilled it normally with pin under or next to the ring finger. It does this because of at least 2 factors. The increased distance from pin to PAP reduces the amount of RG differential, which, in turn, reduces the amount the ball will eventually flare; this, in turn, reduces the amount of overall hook. These may be larger or smaller degrees of change, depending on the ball's specs and your hand. Because the pin is higher above the midline, the drilled RG is higher; therefore, the ball will go longer.
As I started to say, before I got carried away by the tiny details, it makes the ball appear to be weaker, so you have to play straighter or hit the ball harder or throw slower, etc., etc. Some bowlers do this so they can use stringer balls in weaker situations; some do it because they are crankers. Some do it to impress the girls and their friends.
I'd suggest - Don't do it unless there is a good reason.
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"We get old too fast, and too late, smart."