For my control panel I rough cut the Lexan with a Band Saw and then screwed it to the CP top which had already been drilled for Joystick and Button Holes. I used a 3/8" laminate router bit to make a perfect cut around the edge. I then drilled 3/8" pilot holes through the Lexan (where the button and Joystick holes were) and ran the router bit through these for perfect holes in the Lexan. See image below.
For smooth cuts in MDF and particle board, use a blade with as many teeth as possible. Same principle as wood cross cuts. There is less tear. This Freud blade is the best in my opinion. It is expensive, so if you won't need a saw blade after this project, you can get a cheaper knockoff.