Oh dear... was it the drawings, the photos, or the Holdsworth.. or all three?
Just been over to originalshinkicker's online gaff for a gander at 3505, and in one photo he has very helpfully left a steel rule up the seat tube! On the basis of that, I've respaced the letters with 4mm in between them, so from top of 'R' to base of 'H' now measures 164mm. After looking at a few more close-ups of original transfers, in the spirit of: 'Original warts and all', I've moved the middle horizontal of the 'E' down from slightly above centre to slightly below, and extended the top horizontal of the same letter. Straightened out the top curve of the 'G' a bit, too: