A cheap, easy method of making any large hole, even odd shapes is, drill a series of 1/8 holes all around just inside the the scribed line. Leave about 1/32 between the holes. Then nip the webs with a pair of side cutters. Remove the center and finish the edges with a half round file.
Time consuming, yes, very accurate, yes.
Big advantage, cheap. No expensive hole saws or chassis punches needed.
The holes could be drilled with a hand drill if you are really hard up.
Another method used in the "olde dayz" was the single bit adjustable fly cutter driven with a hand brace.