Drill the stand.. I had a HOB for a while, and I prefer the built in overflow I have now. It's cleaner, quiet, easier to maintain and safer (If set up properly)
With a glass-holes overflow, the pipes come out of the vertical wall of the tank (not the bottom) and therefore you do not have to drill the top of the stand. Realize that you will still need to bring those pipes into the stand (assuming that is where the sump is) and this is typically done through the back wall of the stand.
drilling the back is a possibility but i have been told the bottom drains work better . all mine a rear drilled but this is due to necisity and not choice