What seems really simple actually isn't, thanks to Our Friends The Military. There is one basic spacing, but different rack size panels use it differently- which is why EIA rails appear to have 3 different drillings.
Ready for this?
The basic 1-slot panel is 1.75" high. The holes (or more correctly slots, so that you can change the shot-up radio in your B-17 quickly, and get back to bombing Germany) are inset from the edges 1/4" on center: so their spacing is 1.25" OC.
The basic 2-slot panel is like a 1-slot, twice as high (3.5"), but rather than having 4 slots per edge it omits the innermost two. The outers are still inset 1/4" OC from the edge, so you have a spacing of 3" OC.
With the 3-, 4-, and 5-slot panels, we get wierd. The inset changes to 1.5". So for those we have 2.25", 4", and 5.75" spacing OC, respectively. This is the second set of drillings you see on the rails. 3, 4, and 5-slot panels still have only 4 slots.
The 6-slot gets even wierder: it mounts on 8 screws (4 per side). The outer two are inset 1.5", but the next two are then inset 2.25" (leaving the spacing between the middle two 3").
But wait, there's more: the 7-slot is the wierdest of all. This monster mounts with 12 screws, six per side. The outer two are inset 1.5", and the next two are 1.75". This leaves the spacing between the middle two as 2.25". Unfortunately, because of the pair of 1.75"s previously, this leaves you out in the middle of nowhere... This is where that odd single hole comes from, forming that 5-hole repeating pattern in the rail. You know, the one you never use...
And no, I'm not making this up. Aren't you _glad_ you asked? (;-)