As a builder of bicycle frames, I have been exposed to this conundrum for quite a while.
This method is genius, but a little bit of a pain in the butt due to the drill needed. The way I've taken to doing it on bikes is actually silver brazing them. Harris 56% silver rod and a little bit of flux makes an amazing cable termination. The silver is very low temperature as well, though I typically have an oxy-fuel torch ready to go and therefore use it, this can be done easily with just a propane blow torch from a local hardware store. Because this method doesn't get the metal hot enough to melt, the balling issue that comes up with welding is non-existant.
I'll try to take a couple pictures of the results. I may try the drill twist-weld thing at some point, but as far as I am concerned, it doesn't get much easier than dipping the cable end in a jar of flux, hitting it with a torch and touching it with a filler rod. Takes less than a minute.
Cheers guys!