Official Luthiers Forum!

First uke.

I bought a couple of sets of friction keys. Neither has instructions nor can I find them on the Internet.

Grover standard model 2 appears to require a 3/16" hole with a countersink top. If that is correct, is it just a standard countersink? It seems that the cone will run awfully close to the outside diameter of the bushing.

Gotoh standard, which appears to require a larger hole to allow the force-fit of the knurled top bushing.

Advice on the actual installation method of these would be appreciated.

You need a counter sink. Just drill for the bushing size. The bushing should press into the hole tightly or require a few taps with a hammer to get it seated. The shaft is smaller than the hole so it turns freely.
Stew Mac has dimension for their tuners. maybe yours is here too.... http://www.stewmac.com/Hardware_and_Par ... _Pegs.html
Looks like you want to drill a 5/16" hole

My Grovers are a different design, with a tapered bushing instead of knurled, but my Gotohs look a little like your photos.