To answer the OP's question, yeah...the bird hole will weaken the pole somewhat. It will only matter if the line falls on 1 side or the other of the pole with the bird hole. When the weight of the wire on the opposite side pulls everything in that direction, the bird hole pole snaps like a twig! Then...second 70 and I will get paid triple double overtime and a half to go fix it! Just kidding.....we're both too damn old to be doing transmission work! I've been doing line work for 42 years. I worked transmission for 3 years in the mid 80's, and when we had peckerwood nests, we would nail bird wire over the hole. It worked so well that the wood peckers would move to another pole and beat a hole in it! Next time you go by the pole, stop and take a pic and e mail it to your power company with an address. They will go look at it and determine how critical it is. I think the OP lives in FL? If the pole belongs to Dook Energy......don't look for it to get replaced anytime soon!