re drilling 8.75 axles (at home)

I have to agree with Hyper-pak, its not rocket science. I think I would use a transfer punch as well as the wheel adapter. It would not be hard to get the correct hole diameter, you could get a new stud, measure it and figure from there. I would drill the hole slightly undersize and ream to final size. Definitely use a drill press to keep things square. Let us know how it goes.