All,
Just throwing-out a wild data point here...
Last night, I made a special threaded shaft and nut (5/8-20) out of some drops alloy (it was one of the common 41xx alloys but not sure which one). Had I drilled the holes according to the 75% charts, it would have been darn near impossible to tap. Ended-up going about 10 thou over recommended. The fit was absolutely perfect and engagement looked better than any factory bolt by far...
As a practical matter for homeshop use, there's a lot of latitude -well indicated by the fact that the recommended drill holes are usually one size rounded-up to the closest bit size. When I know I'm making something "important", I shoot for at least 75% engagement or higher for softer metals. But every now and then, it's just not that critical and I cut myself some latitude...
Ray