Well today I went ahead with the vented shroud mod. After drawing out a few possible designs I went ahead with two rows of 7/64" holes (for a total of 9 per side), similar to the ones found on my Mossberg 500 (which has 8 1/8"holes). After several hours of work I can tell you this, it's a very arduous task doing it freehand. So I would suggest doing it on a drll press with a press vise if possible. Not only will this save you time but should give you "perfect" alignment of all the holes. Although, I spent alot of time making sure my pencil guide lines were nice and straight and square with the barrel, by the time I was done drilling, the holes were not perfectly aligned .
At the moment I don't have any way of measuring dB's so I'm unsure whether there is any reduction in sound level out in front of the barrel. However, after several dry fires, there's no question that air escapes from the holes, so this is a good sign. My plan may be to add 4 more holes per side but for now we'll see how this goes. Good luck. Steve