Build an adjustable pad-eye jig
If you really want to only drill one hole, set up a jig to experiment with.
Two 8-inch sections of 2x4. Clamp them lengthwise (fore and aft) to sandwich a likely spot along the toe rail. Maybe cut a groove to accept the turned-in top of the toe rail to help secure it. Drill down through one piece, insert an eye-bolt with a 4" shaft, and secure with washer and nut. Attach snatch block to your temporary pad-eye.
You could tether the C-clamps to stanchions, so that if you get a strong gust and the jig carries away, you won't lose the clamps.
Test it out on a light wind day, and when on the opposite tack, you can slide it fore or aft to try different points of sail/sheeting angles. Pretty soon you'll find your sweet spot.
Then confidently drill only one hole on each side. Maybe relieve the edges of the hole with a rat-tail file, unless you're going to go for that $113 toe rail pad-eye, but I don't know if that will fit if your toe rail is bent in at the top. If you clip the block directly, you might get some strange wear where the toe rail bends inboard, but it shouldn't interfere with function.