The led rings I made for my Axis A22 were pretty simple. I bought a 6 31/32 hole saw (ordered it online) and a 5 1/2 hole saw and an arbor. I bought sheets of 1/4 acrylic from low's. I used hole saws on a drill press to cut out the rings for the speakers (you have to cut really carefully in short bursts and allow the acrylic shards to clean out of the cut your are making to minimize melting. I had to double up the rings I made because I couldn't find 1/2'' acrylic locally. Once I had the rings cut, I used a sanding wheel to take off the rough parts (inside and outside of the rings), even up each set of rings, and to frost the rings. I then glued some led strips that I bought off of ebay (the 48cm strips work perfect for speakers) to the inside of the rings after a test fit with the speakers. Lastly, I drilled the screw holes to mount the speakers and rings in the boat.
With regard to the cupholders I made, I used a bit that my father in law had that's got two blades on it that you can adjust in or out to cut a specific diameter hole. I had to double up the acrylic again once the rings were cut. I polished/frosted them the same way. I used some cheaper led strips that were 30cm long. I attached them to the cupholder first and then slid the ring over the led strip. I wired everything in by tapping into the interior lights.
These are the led's I used for the speaker rings: http://cgi.ebay.com/ebaymotors/48cm-...Q5fAccessories
These are the led's I used for the cup holders: http://cgi.ebay.com/ebaymotors/2pcs-...Q5fAccessories
This is the tool I used to cut the cup holders: http://bestofferbuy.com/30~120mm-Ste...campaign=gbase
The speaker hole saws were more expensive:
Here is the sanding wheel I used on the drill press: