Not sound quality, unless they are huge. If you are going to the trouble to rewrap, might as well take the time to fill the holes. Lug holes not likely to cause problems, but larger holes could provide weak spots to crack if they get bumped. Use a good quality wood filler. It's easy and only takes a little time to be sure. Large holes, like through mounts, may need a wood piece glued in place and them smoothed out with filller.

Thanks for your help.

Cheers