Rick Newcombe recommends that the draft-hole in the shank be opened to approximately 5/32". Using a 5/32" drill-bit, I've tried this with several of the poorer-performing pipes in my collection and have been amazed at the improvement in their smoking quality.
I just read Newcombe’s In Search of Pipe Dreams, and now I’m tempted to have one of my pipes modified just to experience the difference in draw.
In one chapter, he says he likes to have his pipes drilled between 11/64 and 3/16, have you tried comparing different sized draft holes?
@troutface mentioned above that he goes to 11/64. I’m inspired!