So I bought a Engine Stand Mounting plate for my Engine Stand from Lang's. I understand that I have to mount it by the water jacket.

The directions say I have to drill the plate. Most stands have adjustable arms to hold the back of an engine. If they are adjustable than why not have them drilled already? I sure people have used this setup before. Any pictures?

http://www.mtfca.com/discus/messages/708324/780355.html
this is a good place to start

Hope someone has the answer. The only ones I have worked with have the tube installed to slide into the stand. But different stands take different size tubes so this one covers many different models. I am thinking the adjustable arms are not used with the style you are getting so the holes in the plate they attach to may be different with all the different models out there.

Wow that was a good thread G.R. Lots of innovation there. The stand I have has the tube type of connection to the stand. I'm thinking I have to get a big drill bit and drill 4 holes in the plate

No just the holes to index the tube so it can be horizontal or vertical. If your stand has a hole for a pin, just drill using that hole, if not drill new hole thru the assembly one for horizontal and one for vertical.