Your hot plate can be used to warm molds (assuming you can turn it down to around 400-450 freedom degrees), so not a lost cause at all. Good for if you need to take a break or add lead to the pot. I get better results heating my molds on a hot plate than trying to warm them over the lead pot, normally now I can get good castings within the first 2 or 3 attempts, some even on first pour but as habit I toss those out.
I had one drilled and they got into the steel mold handle pin. Now I know how it's done I dont know if I will have it done again.
If you throw the rejects and sprues back in the pot, it pulls a lot of heat out of the molten lead. Get a thermometer and watch what happens. Rejects and sprues go into another container until I'm ready for a pause, then I'll dump them back in and take a break.I mention this because I was cutting sprues directly back into the pot and wondered why stuff was getting wrinkles after a few pours. Then I got the thermometer and figured out what was happening, it is surprising how much heat gets stolen buy just the sprues and how slow the recovery time is with my 4-20 pot. Would probably be better with a PID control, but don't have that yet.