I use vent holes down to 2" rockets as it helps equalize pressures inside the airframes and nosecones. In the past, I'd noticed that dark colored nosecones would bulge substantially when exposed to the sun outside, changing the fit. This was due to air inside expanding from the heat generated by black paint. Solution: vent the bulkhead plate where my shock cord attaches, then vent the payload bay as well.
Consider this too: When a rocket is accelerating skyward rapidly, the pressure inside the airframe equalized on the ground. When it goes to lower pressure quite quickly, it creates high pressure inside the airframe versus the outside pressure which can lead to (or assist) early or premature separation of parts that might be sensitive to that pressure (friction fit nosecones come to mind). What worked on the ground might not at differing pressures.
Vent holes also ease assembly of components and add a little extra barometric sampling for the on-board altimeters...