First of all I want to thank everyone that replied so far but especially Daiku. I had seen your fancy jig on another site and thought it was overkill for what I needed. You guys are obviously all good at what you do and all have your preferred method.
Daiku,
On your router templates do you just use 3/4 plywood and oversize to account for the router base? Or are you using a multi tiered template with a top bearing bit? I was also thinking of trying to cut the center with the router as mine are only 1/2" deep. Or would it be easier to knock the center out with a chisel even at that depth? Also what type of clamps are you using?