I have a question for the user community. Is there any standard that describes where the balloon arrow should point for a hole table? Should the arrow point at the edge of the hole or at its center like we currently do? Even if you can't quote a standard, how do you prefer that we point at holes?

It very much depends on industry. Large-scale (aircraft, shipping etc) the holes are not shown as circles but represented by a centerline symbol only (which may be a simple two-line cross or something more sophisticated with letter/number codes in one or more of the quadrants). In that case, the arrow head of the balloon will be close to the symbol but not touching anything.

Hi Mike,
not covered by standards is a surprising situation?
My preference would be the edge of the hole same as rad. and dia. dimensions. Perhaps the drilled dia. for tapped holes.This way you can see the arcs/circles are associated with the hole. However as Chris points out, we actually machine to centres.
Answer, give users a choice.

Cheers