When installing new pedals, all i have to do is rip off the rubber cover, and drill holes in the correct spot for the new pedal's screwed to go through, correct? I am just going to replace with new all black pedals, not goin to go ricer style. part of my rubber is ripping off, so need to replace anyways

 

Yep! And make sure you get the kind that drill through... it might seem like the easy way out to get the clip-on kind, but those can be really treacherous