I have made a few p/g's by tracing or drawing what I wanted on some poster board, then tracing that onto a piece of MDF to make a template. I prefer MDF b/c it is easier to shape any hard edges on the curves if you leave any when cutting it out. Then using a bandsaw, I cut the pattern close the the pencil line but not on it. This allows a little margin for sanding and reshaping. Once I've got the shape I want I use a CA on the template edges so it remains hard and sand it nice and flat after it has dried. Now you place your pickguard material on top of the template you've made and trace the shape onto the material. Leave the protective film on the p/g material the whole time.Bandsaw the p/g material close to the edge of the trace line. I put double stick tape to the back of the material and stick it to my template, drill the screw holes in anto the material and screw it down. Using a tracing laminate cutting bit in a table router I simply follow the template and get a perfect cut. If you want to get the 45 degree edge you can use the V shaped bit mentioned to finish it off. Just my way, may not be the best either but it works pretty well. Hope this helps.