well, not sure if I have the same setup as you on the letters, but Mine arent held on via holes. they are backed with some form of rubbery glue. mind you this is a stock 71, they might have changed it from your year to mine.
Sorry not any help withthe console, but If you post pics I might be able to help a bit with the wiring. as to the light staying on, seems like it is just hooked up to the wrong type of power. should be a switched power I think, not a constant as you describe. when you kill the car does it stay on?
Mike
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A great man once told me, "..." Well any way I guess that he wasn't that great.
My garage: 1971 Mustang Grande, MSD6A, 625 Road Demon JR, Edelbrock Performer manifold, Hopes and Dreams...
1970 Norton 750 Commando
1993 Saturn SC2. The wifeys. fuzzy dice and all.
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