As far as the connecting the hardware, what I suggested is, from what I understand, standard in the rigging industry and is the correct method. You drill the hole to fit the compression tube; cut the tubing so that the ends of the tube are flush with the boom; insert the bolt in the tube and (with the bale in place) place the assembly through both of the holes in the boom and bolt into place. I would also install some plastic washers between the bale and boom to eliminate damage to the boom. Your method has problems in that the dis-similar metals will cause corrosion in the aluminum boom and eventually the hole will become bigger and the screw will come loose. Also you are relying solely on the strength of the screw. There is a lot of load on the boom vang.