Sounds great! If you have any questions, I'll be happy to help any way I can. As far as drilling any holes, I highly recommend using a step bit as opposed to a hole saw. Much easier.
Otherwise, just make sure you maintain a distance of 24" from your charcoal grate to your cooking grate. Mine is set up where I can have 2 cooking grates, and that's the big benefit of using a kettle lid. The top grate goes right at the top of the drum, and the other goes about 7" below that one leaving it 24" above the charcoal grate.