On to the good stuff...my brother-in-law was over last night and I took the opportunity since I have another set of hands to finally kick this project off (since I am not using my friends' setup anymore).
We started right before dinner time and ended a little after 3am
(many beer breaks in-between to wash down the dust in our mouth and throat. I also took the opportunity to clean my nose, ears, eyes, and clear my lungs.
We actually got incredibly accurate cuts using a simple rip fence (mdf sheet) for my skill saw, my trusty compass, and a jig saw to cut the holes
I did end up acquiring a very nice router and bits from the friend who was going to let me use his tools though! We used it to round over the inside edge where the speakers will sit flush to. I don't know if I want to roundover the exterior edges yet though?