This thing about opening the lens to the maximum possible got me puzzled a bit, so I took out my Holga, micrometer and optics book (Popular optics from Edmund Scientific... great book by the way) and came out with the following:
f/stop= Focal Length/Diameter of aperture
A Holga has a 60mm lens (or at least it should be since it's written on the lens barrel).
The lens diameter is 19mm on the exterior of the body (which is your aperture)
This makes the full aperture an f/3.2 lens.
And a depth of field of:
3.25 ft - 3.12 ft to 3.38 ft
6.5 ft - 5.99 ft to 7.09 ft
20 ft - 15.83 ft to 27.14 ft
33 ft - 22.98 ft to 58.50 ft
Notice that infinity in lost with your mod... but you gain a much wider aperture...
Can't wait to see what the camera will produce