Hi, yes, I did end up adding two extra holes to the strap. I took it to a cobbler here in town, and since he could only add round holes and not teardrop shaped ones, he suggested another option to shorten the strap. This second option would have involved cutting the strap at the point where the long strap attaches to the chain on the side of the purse. However, I did not want this done so I asked him to go ahead and add round-shaped holes.
Honestly, it looks fine, and to me, it is not an issue that the hole is round versus teardrop-shaped. The main thing is to make sure that the hole is the right size for the knob. Punching a hole that is too large or too small is more of an issue than the shape of the hole. Let me know if you would like to see pictures and I can post them. Hope this helps.