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If you have space, I often resort to a high speed die grinder. It is a 20,000 rpm pneumatic or electric tool that spins a carbide inserted tool cutter. (McMaster-Carr) The tools come in different shapes by the box and fit in a 1/4 inch tool holder. With these you can cut almost anything quickly and accurately. The bits are called carbide burrs (about page 2589)
I like the welded nut plan too if you can make the arrangements.
I like the welded nut plan too if you can make the arrangements.