Hi Curt,
I came across your post through the search as I'm looking to put an 848 head on my 261. It seems like a few people have asked the question regarding drilling steam holes into an 848 head but I haven't found the definitive answer yet.
I understand I should use the 261 head gasket as a template and from your findings it looks like the holes should be drilled at 12 degrees.
What I'd like to know is how deep they need to be drilled? Again from your pic it looks like they don't go all the way through.
Any help is much appreciated!