The Harbor Freight circle cutter worked perfectly! I even use it to cut perfect circles by hand in laminate/posterboard. The hole I cut in my CP was exactly 3.25", just so others will know for the future.
The "hidden" bolts to secure the trackball to the underside of the CP can be replaced with 4"(I think) long screws, just double check the measurement to make sure you don't screw into the top of the CP! this is a very nice trackball and looks like it uses 2 standard Happ rollers with a custom 3rd roller on the backend of the trackball. I don't recognize that 3rd roller from other trackballs I have used and rebuilt (many). But it takes years of abuse to get the point of rebuilding, so it should be good for the next 10 years or so...Highly recommended!