Ed,
You are correct that those two holes, which have been cast in the Main Frame since the beginning, are for the bracket for the Belt Cover you show. There is a different Belt Cover Magna made that also uses those two holes and the same bracket part that attaches to the Main Frame. It covers less of the Belt and can be seen in the picture below on a Power Stand. It can attach directly to the Mounting Base which is another mounting option for the Belt Cover for different SPT's. So, if you were wondering what the center threaded screw hole in Mounting Bases was for, that's it.
_
.
In the above case it happens to be attached in the wrong position for use.
More recently, two additional holes have been added to the Bandsaw Main Frame. They are drilled and threaded holes for the Hub Safety Cover as shown below.
_
.
Hub Covers can now be found on the Mark Headstock too.

