Fortunately it is Clark who needs to replace his complete pins, not me and my partial ones. Drilling and tapping (or even drilling and solder, epoxy or force-fit) should be fine for him. If I needed it, I think it would have to be silver solder. You suggestion of clamping a piece of steel to make a complete hole (shaped I suppose to fit the revolver-cylinder concavity of the frame) is a good one. I think I would turn it with a flange, or have a piece of sheet steel fixed to the top, drilled to accurately locate the holes.
Dickens makes it plain that in the London factory, presumably copying US Colt practice, all a few skilled craftsmen did in the machine shop was the setting-up of what were mostly basic machine tools with specialised tooling. The work was done by people recruited from other jobs, and mostly very glad to be. The belts from a single overhead layshaft were usual in Victorian factories, and a great source of accidents. But some workers preferred them to V-belts when they came on the scene. The flat belt might pull you into the machine, but more likely just crush or disclocate your finger, while the V-belt would chop it off.