One plug and re-drill isn't a big deal. As for weight/balance hole reducing weight, you won't notice the half ounce or so difference.
As for this hole and it's affect on reaction: when placed in the correct spot, HOLY SMOKES! It can increase ball dynamics by as much as 40% in the studies researched by Mo Pinel. So a ball drilled and designed for a strong mid-lane read will read it even stronger. A ball set up for a massive sharp hook will do so easier.
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