An 8.2 mm diameter drill bit is perfect for drilling out from Presta to Schraeder; don't forget to deburr the holes to ensure that you have removed all the sharp edges.
I have done several bikes now, including the current 700 X 28c alloy rims on both Lois' and my Hybrids ..... ..... ..... ..... as for weakening the rims ..... it's negligible. My Hybrid has done over 17,000 miles in the last 4 years including several hundred miles of forest tracks, riverside footpaths, and a lot of other terrain that the bike was not designed for, including racing kids around the local BMX tracks. It is also often heavily loaded with 4 panniers (10kgs each), front & rear racks(5-10kgs each) and towing a trailer up to about 75kg gross weight, and I have never had a problem.
Over the many years I have been a cyclist, I have never experienced a problem with schreader valves on any of my bicycles, bike trailers, Cargo Cycles, or the three Pedi-vans that I currently own.
In fact the only tyre and tube troubles and woes that I have had over the last 3 years, have been caused by broken glass, loose nails from the local timber yard, and one potentially dangerous experience whilst the bike was parked in the shed this summer. The suns rays were magnified by a jam jar in the shed's window, and they scorched a burn mark across the wooden floor, melted a hole in my rear tyre, and blew the tube out .... ... we were lucky not to have a fire that day.