But does the extra holes drilled into the block and head around the exhaust valves help it run cooler or is it not really necessary

The later model 292 blocks have the steam holes in the decks between the center cylinders.  I go out of my way to seal those holes before machining the decks.  Cracked heads at that point come to the forefront with the steam holes.  Here’s the link to a past thread on the subject.

http://forums.y-blocksforever.com/FindPost80673.aspx 

Lorena, Texas (South of Waco)

Done cam oiling holes to two blocks and neither have cracked from there. No issues with camshaft, so it doesn't hurt anything. Does it help...? Maybe? Also done holes to heads and block for that water passage. Don't know does it help or not as we only drive for 1/4 mile...

 Seppo from Järvenpää, Finland
www.hollowheads.net (just click the hole in the head to proceed)

I read an article online where the guy drilled an extra hole in the head where the exhaust valve is and in the same
Place in the block
To help it cool better and also drilling a small hole
At the base of the boss lifters and than grinding a small grove so that oil can run down it into the hole to
Help lubricate the cam. Has anyone done this or does the 292 even need this
Done? I am
Getting ready to
Put mine back together so I would
Appreciate some
Advice. Thanks.