Many Thanks for the replies and great advice here. I had some projects from SWMBO to clear up and just got back to this over the last weekend. I masked the area with blue tape and marked the holes using the gasket that came with the light fixture. Dremel tool and cutoff wheel worked great. After cutting I brushed primer on the exposed cut edges. It only took a couple hours. Also added matte trunk stripe and the mach 1 letters.
How ever you decide to cut the panels for the marker lights. Go slow and watch out for heat build up. Take breaks to make sure your wrist doesn't get fatigued. Personally I love the clean no marker look. But if your doing a factory correct resto, or just like the look of marker lights,
then good luck!!
Keith