When I installed a White Lightning vent liner a few months ago, I noticed that the vent was smaller than the 1/16th" that seemed to be the norm. I was advised that the smaller hole gave more consistent muzzle velocities (i.e. smaller standard deviation) advantageous for target shooting, but drilling it out to 1/16" would give more reliable ignition. Also, if left at the smaller diameter hole, it would take approximately 3000 shots before the vent became enlarged to more than 1/16" and require replacement.
So, with respect to the question about 'optimum size of a vent hole,' you'd have to qualify how you measure optimum - accuracy, reliability of ignition, service life of the vent, or other.