Bamboo skewers and wood glue. Cut the skewers to the depth of the holes, then squeeze them until they splinter. Dip the splinters in wood glue and insert them into the holes until the last one you have to tap down with a small hammer. Let it cure. Then put your post screw back in wherever you want.

If it was me, I'd use a bamboo skewer and wood glue. Coat skewer with glue, jam into the hole that you want to delete, hammer lightly with something, wipe excess glue off. Once dry, cut off flush with playfield with razor or japanese flush-cut saw. You could fill both holes and drill a new hole once the glue is dry. I have used this method for stripped screw holes and to fill a hole from a center post that someone added. Good luck.

-Riles

What I sometimes do, especially on these older SS games, is a completely different approach. It's obvious that this post is going to get nailed by the ball, which in turn is going to loosen up any repairs that you do and you'll be in the same boat with a bigger hole.

Decide which hole you want to use. Get a T-nut and drill through the playfield at that location. Install the T-nut from underneath and replace the wood screw with a machine screw. It will be rock solid.

I like this solution but I would go with the repair of the hole with the bamboo and then do this.

...hole with the bamboo and THEN do this...
Bingo.
--
Chris Hibler - CARGPB #31
http://www.Team-EM.com
http://webpages.charter.net/chibler/Pinball/index.htm
http://www.PinWiki.com - The Place to go for Pinball Repair Info

fixed.

Glue can be a bitch to drill through cleanly and accurately. In the past, I have used a slightly larger drill bit to create a clean hole and glued in a corresponding section of hardwood dowel. When facing a "figure 8" hole like you're dealing with, I do one section and let it dry and then do the other. I install the dowel flush to the presentation side, and trim the other side after the glue is cured.

And yeah, I would follow up with a t-nut and machine screw/bolt combo. If you've got the patience, the t-nuts that hold the best for me use three small screws to hold the base rather than prongs.

For something that size,
JB weld has impact resistance, and will grab the existing hole surface very good.

How about drilling all the way through on the hole you actually want and putting as Tnut on the back then fill in the hole you don't want.