So I've got my entire panel laid out. Planned all my holes. Set about ordering my parts. Then...
Ooops, forgot to add one minor detail. OK, let me fire up Sketchup with my panel model and insert the missing parts like so.....

Question #1:
I'm still exploring this option but is there a way to cut a hole say... 3/4"D in one panel (acrylic), then to cut a hole 1/4" larger in the exact same place on another panel (fiberboard eg pegboard probably) without tearing the crap out of one or cracking the other?
I got the idea that I'll need to use a sandwich jig, sandwich my panels between the jig, clamp, then use a router bit with a bearing (I forget the name) to follow the shape of the jig. But how do I go about getting the hole in one to be 3/4"D and the hole in the other to be 1". Maybe drill a 1" hole in my jig, then use one bit to cut my 1" hole then use another bit to follow the same guide but offset by 1/8? That's pretty close tolerances there.
Maybe use a small bit to drill all my holes where I want in the sandwich jig. Then switch to the correct size bit to drill my holes on one half of the jig side, then use another sized bit to drill the slightly larger holes on the other side? Then I can use the router to make whatever cuts I need depending on one side or the other?
I looked at clamping it into a drill press but A) that's an awful lot of changing even just for a few holes and B) my drill press needs a new belt and the parts store never seems to be open when I'm off of work. :\
Question #2:
If I cut the slightly larger holes, some of the holes have small overlap (this is acceptable to me). In my experience, cutting overlapping holes in wood always results in the thinnest parts of the wood either tearing out or worse, being crooked. So I'm thinking that maybe I should try drilling a sheet of aluminum and use that as part of my sandwich jig. I've been looking at the router bits with that little bearing bobbin, and it doesn't seem like they would work very well. Am I looking at the wrong router bits? is there, at the very least, a flush bit that can let me follow a metal template?
Or someone can loan me their CNC table and this entire query goes away.
