Follow-up.
Well...things do not always seem as straight-forward as they should be.
First -- the stub on the brake lever is looks like it is fastened onto the lever by a cold-forming operation that smashed the backside like a rivet. I tried to saw that formed lip off with a sawz-all, then with a hacksaw. Neither would touch it. Must be Rc 60+ hardness!
My dremel grinder would work on it, some. But then I decided that it could stay in place and I decided to drill the new hole for a modified 1/2" diameter bolt I planned to weld in place...
Second -- the stub on the PowerMaster brake lever is 1/2" in diameter. The hole in the vacuum booster pushrod arm is only 7/16" diameter!
Before I found out this little difference, I had already drilled a 1/2" hole in the lever.
I could make it work, but at this point I am in the mood to call the local junk yards tomorrow and see if one of them has any donor G-body brake levers...and if they will remove them for me for some extra cash. G-bodies are not very common around here -- only at the really sh**y yards, and then it is always a "Search Mission" by me to find the crappy cars (if they exist) and then of course the fun to remove the parts while sitting/lying in who knows what. I had really wanted to avoid that again.
Ah the little details...funny how I have never read anything about these details before. Well...here are a few details from the "path less traveled".