I put it into the dividing head on my mill and go from there :wink:
Before that I had been known to put the Dremel in the lathe as a toolpost grinder and use a cutting wheel to make the slots.
Before I had my mill and lathe the Dremel and a cutting blade did a fantastic job. Really easy. Just mark it out accurately, take your time and use safety glasses.
I suspect there are some other stores in the US (not sure of their names) that have knock-off versions of the Dremel at a cheaper price. Or fork out the $ and get a Dremel and be happy

. You won't regret the purchase.