You definately want to know what you want as far as overflow styles go before drilling. The drilling part is easy enough, but, once done there's no going back (short of replacing the pane) if you discover you could have done it better. I went with the Beananimal 3 drain style in an outside drain box. In my ignorance I didn't consider how much noise getting the water to the drain pipes could be if not properly designed, lol. I did some researching on drain styles and then jumped in and did it, modifying as I went, and, not realizing I was making some serious mistakes. In my tank I have a small overflow on the back wall that feeds water through two 1.75" holes into a large drain box outside the tank that houses the 3 drains. Well, the water drops from the inside overflow to the two holes, then down again to the standpipe and it sounds like Niagra Falls...mind you, the 3 standpipes themselves are silent...it's the water getting to them from the double falls I created that makes all the noise! I will have to re-do the stand pipes and make them taller so the water doesn't have to fall so far before it drains...
This is just something I thought I'd share to illustrate that you need to fully consider each step of your plan before jumping in and doing it...and having your plan critiqued by the experts here could save you loads of time, money and frustration (I should follow my own advice here!) Anyway, good luck with your build!