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Will enlarging the I.D of the hosel affect the play of the club in any way? I ordered a combo set of iron/hybrid clubs thinking that both had the same I.D. I just noticed that the hybrids are .335 and the irons are .370. I already have the shafts which are .370. The main reason I went with hybrids is for playing out of the rough and i would rather have the beefiness of a .370 shaft instead of a .370. I was thinking about drilling out the hosels to accpet the .370s, that is as long as the O.D. and wall thickness of the hosel is not to small.

Shouldn't be a problem drilling out the hosel. You might want to do it in a few steps, so as not to drill them out too much. That could happen if you drill them out with a .375 drill all in one go.