Good advice from all but please allow two more tips:

To locate the holes before slicing, push the screws in from the spacer side of the pad. The screw will force the rubber to portrude at the exact spot. While it's portruding, slice with razor blade.

Use two screwdivers. I use #1 Phillips, lubricated with Vaseline and don't remove them until the job's completed.

Never tried Brownell's recoil pad bits but I'll bet they work well.

Cary