I have a one pipe steam heat system and one of my condensate lines have rusted and there is a hole on the bottom of the pipe about an eighth of an inch. I had this happen one other time about 5 years ago and I put J-Weld on it then wrapped the pipe with an aluminum shield and then sliced a fernco to wrap the pipe and clamped the ends. This fix has held since made.

I was wondering though if now I can just over bore this new hole to a 1/4 inch then tap it and install a threaded plug or screw with some compound. Sound like it will work or do you think I will put a running fracture in the pipe when I tap it?