I found that a Greenlee 15/16" (US inches) punch (Mouser 586-3808) is perfect for back mounting Neutrik products in aluminum cases. I used it for both my RCA phono jacks as well as the locking 1/4" headphone jack on my EHHA. The hole size is perfect, you just need to measure and drill the screw holes to hold the part in place. For that, I used a typical screw set (stainless #4-40 screws, flat washer, lock washer, nut) and it worked great. I was very pleased with the results (http://www.head-fi.org/forum/thread/506984/ehha-rev-a-interest-thread/897)
The tricky part is material thickness of the case you are using. For a Par Metal case, the 0.06" thick back does not require any extra effort. Punch it and forget it, they install perfectly. However, for the front panel, things are quite a bit different. I whole-heartedly agree with John that the thicker material requires a bit more effort. For a 0.125" thick front panel (standard Par-Metal thickness), I had to hog out a fair amount of material in order for the lock on the locking 1/4" jack to work appropriately and for the jack to be at the correct depth.
I used a hand-held dremel tool with a depth guide and slowly removed enough material in order to float the jack at the desired depth. Admittedly, I learned a lot during this process and would most certainly use a form or router guide next time rather than go "free-form" like I did for this installation. At least it is on the back of the panel where no one (except for you lucky head-fi'ers) can see.
Here are a couple of shots as an example:

Yes, as stated above, a guide or template would have yielded a MUCH more precise and professional cut.

Note, I leveled, marked and drilled the mounting holes at this point, from the back.

Final depth. Note, this took a few routes to get right. Remove just a little material at a time until you reach the desired depth. If you have a precision depth guide on your router, then you could probably do this in one step. Lacking the correct tools, I just eyeballed it until it looked right. Just be sure not to go too far! Ultimately, you need something to mount against.
Hope this helps.