what is stronger a punched, dry drilled, or wet drilled padeye

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Clarification of Question by korus-ga on 02 Aug 2004 08:38 PDT

This question is in regaurds to steel. We are trying to figure out
which padeye design is strongest. Punced hole, drilled hole, or
lubricated drilled hole.

Generally, I would think the failure mode for a padeye would be
shearing off the bolts, in which case it doesn't matter how the holes
were made.