George-I don't think hole saw will work as you have no center for pilot bit to ride in as a guide for hole saw,what you'll probably have to do is use a adjustable straight reamer to open hole or take eng/starter to a machine shop & have them ream hole as center of hole is critical not only for starter mounting bolt centers you also have to consider mounting holes on starter may be slightly oversize & id of hole for starter may affect side/side & up/down position of starter motor,this also affects gear lash for starter drive/flywheel ring gear,if lash not correct you may get short starter gear/ring gear life or break nose off starter if lash too tight,I've seen this happen on small eng & auto eng.
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