It does work, except the time I tried it on a growing crack on my windshield. Just kidding. It's considered best practice for castings, at least it's in all the old books. Castings are brittle, and heat cycling can force the cracks to grow, but I suspect any kind of weldment will reduce the stress on the crack significantly by supporting the base and holding things in place. So I've always reserved a little bit of snake-oil doubt over the drilling, but it does certainly interrupt the path of the crack on the micro level. It depends on the repair. Big stuff, definitely. Exhaust manifolds and thin stuff, nah, too small and you'll never know where the end of the crack really is. So many ways to approach a cast iron repair, so many work, it's hard to draw a line where one is better without really looking at the specific part. For your part, I would avoid heat since the part is precision sized and you cannot clean up any warping when you are done without losing that precision.