well...i tried cutting it out of a small piece of lucite (6" x 6") and it warped the circle. This happened because I didn't clamp the lucite onto anything...it was being held freehand (actually...the dremel was in one hand, while the other would rotate the 6"x6" piece of lucite).....
I think if i clamp the lucite onto a piece of wood that it should be fine.
Any comments / concerns?