The first template that Shopsmith distributed might well have been incorrect however I can not (did not) confirm that. I bought my first set of casters a bit later and had no problem at all. However, I used the template only as a source of dimensions. I fabricated a drilling template using those dimensions. Here are the dimensions that I used.

- Caster Dimensions.png (82.25 KiB) Viewed 7915 times
The dimensions given in fractions I believe can safely be rounded to the nearest 1/16" (maybe even to 1/8") with NO ill effect.
I modified the attached drawing to more clearly reflect the dimensions of the template that I used.
This is NOT a precision machining operation. The most critical dimension being the offset between the original holes and the resulting new holes. It is this offset that determines the height of the legs with respect to the floor.
I want my Mark V to sit firmly on the floor when the casters are retracted. Then, if the first "lift" is inadequate (does not provide sufficient clearance), I simply raise the Mark V to the second level.
When at the first level my Mark V legs are a tad less than 1/4" off the floor.
WORD OF CAUTION: Be aware that some of my dimensions depict separation measured at the edge of the holes and not the centers.
I have successfully installed three sets of casters using this template.