Hi,
I have started a build and will start a topic soon with pictures etc.
In the meantime, this caught my eye as I experimented quite a bit before committing to one method. I tried Forstner bits, if I had a drill press that would have allowed me to get to every hole position then I would have done this but I didn't.
The Forstner bit is pretty clean, fine on top and if you use a sacrificial piece of wood underneath it is mostly clean underneath but far from perfect.
The method I have used is with a router, I used a spiral bit and the cut is absolutely perfect both top and bottom, no breakout at all with both MDF and Ply.
I will try to add some pictures at some point but if anyone is curious the method is with a template and guide bush, cut about two thirds through, drill a pilot hole through, turn over, drill through with a forstner bit of a smaller size than the hole, then use a template bit to finish the hole.
Takes a while but the cut will be the perfect size, perfect position, perfectly horizontal and 100% clean. I wanted clean both sides as I have laminated on the reverse side and it needed to be really good.