7keys, I am on the OC Forums! I go by Celeron_Phreak, over there.
For the smaller outside diameter I used a 2 1/2" hole saw, and for the the larger outside diameter I used a 2 5/8" hole saw. For the inside diameter, I used a 2 1/8" forstner bit, and for the outer screened hole I used a 1 5/8" forstner bit. Then I cut the "formed" cup off the "base" of the wood, slightly shallower than the depth of the outer screened hole and sanded them to prep for finish.
No where near perfect, but they are decent enough to wear.

One of the cups are slightly off center, the wood burned some from the hole saws, and I didn't install them with the grain the the same direction, but, they sound great!
I deffinitly prefer the wood lathe process as I used with my SR-80i cups using Padauk wood, and I think I'm going to get a lathe from Harbor Freight when taxes come back. It's easier to get things precise and uniform, so long as the tools remain sharp!
I took them into work today and everyone was drooling over them. They haven't seen my SR-80i yet.
Here they are finished and on the SR-60: