The carb drilling looks great, it should work well. You'll find out when you stick it in some big wood and drag the revs down, you should have more torque down low - and better throttle response.
That series of saws has an insert that blocks off the air flow from the hot air going past the cylinder, probably good if your in a cold climate and you need to keep from icing up the carb. However, in Oz all you are doing is decreasing the air density going into the carb. You at least have the valve to cut off the hot air flow, my $50 crap saw didn't have that and I GB Welded a piece of beer can in the slot.
The air filter mod I made was to strip the felt off an old 029 filter (no compensator) and use some thin filter foam over the nylon filter mesh with a layer of cotton from an old flannel shirt as the filter. I probably increased the area of filtration by 100%, maybe more. It not only flows better, but does a better job of filtering.