Easiest wasy to install for me, I did the cut version (will try to grab some pics)
Put bike on rear stand
Pull fairings
Get Laser pointer on a tripod/stack of boxes, etc and have it point to exactly the center of the frame bolt. Leave the laser on, do not bump or move laser from this point)
Reinstall fairing (don't have to bolt them on, but get them in final resting position)
Place tape on fairing were laser hits and mark that spot with a marker
Drill the hole just a bit larger than your slider
Rinse and repeat for the other side
Enjoy!