I have an old (not that old really - early 1980's) Raleigh Sensor. The frame is made of Hi-Ten steel. The problem is that I'm used to modern brakes now, so found the single pivot Weinmann Alesa brakes not quite up to scratch. So, armed with a power tool, some HSS drill bits and a set of Tektro dual pivots, I set to work.
Starting point
(http://farm4.static.flickr.com/3352/3563975232_2021d427b4.jpg)
(http://farm4.static.flickr.com/3366/3563160347_d7bd046962.jpg)
(http://farm4.static.flickr.com/3412/3563976998_f364b98242.jpg)
N.B. You only need to drill out the rear side of the crown. The front stays the same size.
After a 7mm drill bit
(http://farm4.static.flickr.com/3618/3563977216_f539f64c82.jpg)
After an 8mm drill bit
(http://farm4.static.flickr.com/3575/3563162255_6989a3cf86.jpg)
Dual pivot lovelyness 8) ;D :thumbsup:
(http://farm3.static.flickr.com/2467/3563162495_698575bd13.jpg)
I wouldn't recommend this procedure on anything other than a steel bike.