McMaster offers up jewelers blades that have an odd arbor, but a variety of kerf widths - I get my slots wide enough that the tangs grab and catch the ends with a bit of cyano just for peace of mind. I have never had my phenolic chip out but I have had it not accept fret wire.
It isn't quite as snappy as ebony, but it is awfully close. I like the notion that it was not packed out of an African forest unbeknownst to anyone...
As for bonding it to the neck, if the back surface is sanded to 150 Gorilla glue works well. I have had success with Titebond II and III as well.