Yeah, I still have to drill the hole in my bellhousing and mark my balancer myself. What you described is exactly what you have to do. I also have to install the custom fork, shorter throwout bearing, and firewall stabilizer on the cable. Fun Fun. Wouldn't be so bad except for those #$#^%$ headers! Any ways, here's my Ram pressure plate. As you can see it has provisions for counter weights. I use 9 gram bolt/nuts. This plate is 850 lbs base pressure, adjustable up to 1250 lbs. The counter weights probably add like another 1500 lbs at high RPM. It's the big daddy.
Where did you locate your hole in the bellhousing at? There's not much open space with the trans in place to put it.