Pete,
Blowing is easily the way to go. If you do it, I suggest that you put the holes at the top, two. One for feed and one for venting. ALSO put at least one more half way up. The cellulose will "bridge" sometimes and will not go all the way to the bottom or will stop at some point that you can not detect.
The holes are so easy to fix that it makes sense to have a few so you can make sure all is OK.
One last thought is to but some screen mesh over the vent holes to keep the cellulose form blowing out. Makes clean up easier.
John