Well Kurt it sounds like your on the right track with transfer punches. Did you use the tightest one you could? You could also use transfer buttons or transfer screws,depending on the application these are sometimes a better choice.You should also be drilling clearance holes 1/32 larger than the bolt size. Example for a 1/4 bolt you would want to drill a 9/32 hole. I hope this helps,I have been a Toolmaker for over 20 years and this is a standard that most go by.
The answer to my salvation was simple. God exists in a little black box marked "Blair Rotabroach" on the side. even with my most kick ass drill bits, straight out of the box, My drill press (junk) would allow for a bit of wander. with the Rotabroach, Nada..Zip...Zilch. perfect holes every stinking time!and since it allowed me to use a much smaller "dimple" to center off of, I found that the workpeice got about 10 times more precise. Other cool factoid...if it's off by an r.c.h. in either direction, the rotabroach doesn't try to drift back into the hole. ( as long as it contacts the surface flat, and at medium speed.) they make me happy.
just make a pattern from card board or card stock and transfer them that way. make sure you center punch the rascals.
If you are using transfer punches, make sure (as someone else has said) to use the tightest one possible and make sure the two pieces don't move relative to one another as you move from hole to hole. (You already know that, don't you.) Don't hit the transfer punch too hard-just a tap-enough to leave a slight mark. Re punch the mark with a center punch. Start all your holes with a center drill. And remember: Standard automotive practice is to make clearance holes .031" larger than the nominal size of the fastener.