Josh49 - yes, I drilled the hole, but didn't tap it. I used a stainless steel bolt with a nut on the back side with a star washer and locktite to keep it from vibrating loose. As you note, it was a tight fit, but a motivated installer can accomplish anything.
If you do go for the V1, I can tell you the Arrows are totally worth it ! just knowing the direction of the bogey gives you a lot of insight on the level of threat. If I'm driving past a grocery and the right arrow comes up, it's a pretty good bet I'm being clocked by an automatic door opener !