I do have the latest scangauge a with X-gauge, no tranny temp option, because scangauge doesn't have the code to pull that off. They've tried, but they need proprietary information that they can't seem to get from Toyota since it's a non-standard OBD sensor. Otherwise, the scangauge is awesome for other things like engine temp, and many other sensors. Very cool product!
Regarding the drilling out the drain plug, I think if I was going to go that far, I'd probably just drill and weld in a new bung to the pan.
What I've settled on now, is that I finally located a place locally that carrys the only temp sensor in the world that is same threads as our tranny plug. It's a VDO 400F sensor for transmissions, but its pretty rare. Very few people carry it.
This should plug right into the pan, no mods necessary. However, the specific gauge its meant for is a VDO trans gauge with a range of around 150-400F, which is rediculously outside the range of our transmissions, which typically operate in the low to mid 100 degree range.
So, I'm going to attempt to mate it with a 100-250 degree VDO water temp gauge. Both gauges use 10-180 ohm sensors, so I'm hoping it will work.
Only one way to find out.