Personally I would like to know how to work only with flaps, because holes are always permanent decisions instead of flaps which you can move, remove, make bigger flaps, smaller flaps etc. Althought having said this flaps are unstable decisions. After few throws you have to re-adjust them. Two of these effects are good, but one is not so good. When you have drilled the hole you also decrease the mass of the boomerang.
More range is negative effect on a windy day.
When boomerang spins rapidly it won t be so sensitive to wind, but usually it also increases flying time, and this is bad. One have to balance between these two forces. Try different positions with same weight. Under you can see the picture what happens in the airfoil when you drill a hole to a boomerang. Flaps simply increase the drag of the wing and this is good.