MOTM

If I recall, drill bits made for drilling Plex have the tips ground 
at a different angle than wood or metal drill bits.  I don't recall 
the exact angle, but the idea is to keep the bit from grabbing.  A 
well known trick for drilling plastic is to use dull bits.  Save 
your bits after drilling 50 or so Stooge Panels (I wish!) and use 
them for the Plex.  A friend of mine used to cut plastic on a table 
saw with a blade in backwards.  (Not a carbide blade)  This seemed 
to work rather well, but I'm not sure I'd recommend it.  At the shop 
we have made many jigs out of thick Plex, but we did the cutting and 
drilling with a milling machine.