Okay, I'm a newbie at woodworking so you'll probably see a lot of posts from me thinking that these basic tools are brand new creations that nobody's ever heard of. I've just never been exposed to woodworking and figured that building my control panel, then my cabinet would give me good practice.
So far, I have a power drill, a shop-vac, a jigsaw, and a router. The power drill, sadly, is cordless but it was a gift and it does the job when needed. It's just that it's not all that great when it comes down to multiple button holes in one day. Then again, it could be the cheap set of spade bits that I bought. I just can't find the 1 1/8" forstner bits around me. They are only in big sets that I don't really want to spend the money on right now. I think with a sharper/better bit it will cut through the plywood no problem at all. I only have about a dozen more button holes to drill.

The jigsaw is a cheap free one that came with my router purchase. It's a $26 equivalent but the thing looks like it was made by Fisher Price. The more I use it, the better I'm getting with it.
The coup-de-gras of my tool set is the Rigid Plunge/Fixed router. The router comes with a plunge base and a fixed base as well as vacuum attachments so I can hook it up to my dry vac in order to pull the dust away. I'm seeing a TON of dust come out from simple 3/4" Poplar Plywood. I can't even begin to image what MDF would do! (This is the main reason why my cab is being built with good plywood and not MDF. Dust, weight, and I just feel like it.

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The router is simply fantastic. I can't image living without one now. I'm using it to clean up the straight edge cuts that I attempted to make with my jigsaw, and also for the cleaning out of the internal cut I made for my 4-way joystick. The 4-way cut-out is incredibly smooth and straight. The carbide flush-cutting bit I bought is amazing. It can work through 3/4" plywood like it's nothing, and better yet, it's a plunge-cutting bit as well. I love the thing! Once I get the main CP cut and the button holes drilled, I'll go and route out the areas for the joysticks and other controls. I still need to wait for the trackball and spinner to arrive in order to cut out an area for them. If everything works out with the spinner, I may not even have to route anything and just drill a hole for the bolts that secure it, then drill a hole for the shaft.
Anyway, how did people live before routers? It helps cut a straight line, it recesses joysticks, it cleans up internal cuts, it smooths out edges, it cuts t-molding grooves, it cuts speaker holes, it makes life worth living.

I love this thing and can't wait for my CP to be finished.