I forgot, you've got the factory flare outline to follow since it's first gen style, can't remember if its square or round for your year, but it's basicly a ready-made template to follow when you cut. I tried my first set of cutouts with air shears and an air chopsaw, but the Jig was easiest for me to control. Use a good quality FINE tooth bi-metal blade. Slow and smooth. You can also make your cut a little lower than where you want to end up and leave yourself some room for error. You can always clean it up w/ a soft gdinder stone later. Here's a likn to the place I've bought replacment fenders from, around 35$ each.
http://stores.ebay.com/PERSHING-AUTO-BODY-PARTS_W0QQsspagenameZl2QQtZkm