Here's more about a jig I made up for my dremel. I use it mainly for making manhatten style IC pads. The idea is not originally mine. I based it off of this one, modified a bit for my purposes. It's not the safest tool in the world, but use cautiously it seems to produce these pads fairly well (read: I am not to be held responsible if you hurt yourself). All of the images can be clicked on to see them in a larger size, but without the colorful markup. If you have a slower internet connection, be warned, a few of the full-size images are a bit over 1MB. Most are around 200k.
On the left, you can see that while the carriage is as far back as it can go, the cutting wheel is not yet near the fence. On the right, I have moved the bit deeper into the dremel, so that it is flush with the fence. Not tight against the fence, just flush.
Before we get to making some pads, we should look at the datasheet for the chip we're working with. We want to make sure that we know the chip's dimensions so we can cut appropriately spaced traces. We'll use the dimensions in the datasheet to determine how much to turn the index wheel between passes. This is a datasheet for a Motorola 74HC139A. If you don't believe me, follow the link in the upper left-hand corner of the image, and you can go look at a fresh copy yourself.
Here's a short video of the jig in action. The piece of PCB stock I found first in the pile was a bit too large to fit on the jig with the index wheel in place, so I pulled the wheel off and cut it down to a more manageable size. You'll notice when I start that I'm moving the PCB to either side of the cutting wheel. What I'm doing is deciding which side to feed the material in from. You to feed AGAINST the rotation of the wheel. If you don't, the wheel will tend to grab the piece out of your grip at best, and grab your fingers IN to the wheel at the worst. Please, no comments about how I am going to cut my fingers off. My mother already gives me a hard enough time for riding motorcycles. And yes, the video quality leaves a little bit to be desired. Feel free to buy me something better to shoot video with!
With the PCB stock cut down to a manageable size, I'm ready to start cutting away some copper to make individual traces. Here is cutting the first channel.
Skipping nearer to the end, here are the last two passes. The next to the last pass is a normal channel. The last pass I set the cutting depth deeper, so we can cut the strip off entirely. You do not have to cut all the way through, just mostly. The board will snap apart easily by hand once it gets thin.
After cutting all of the channels to make separate traces, we're left with a reallllly long pad that's only good for a SIP. It *is* nice to try to put our chip on it though, and see that it fits well.
I've cut a notch into the pad. It's still way too long, but can at least support an IC with two rows of pins now.
Rather than having one really long pad, I figured I should cut it into more manageable sized pieces. I managed to get three out of the original long strip, although if I had taken my time and measured I could have probably gotten four. There was a short scrap piece left over, and even the three pads are still longer than they need to be.
Here's that SOIC soldered onto a pad. Thanks to everyone on the QRP-L reflector that encouraged me in one way or another to document this jig. I hope it is helpful to someone. If not, at least I can claim to have soldered an SOIC chip now... this one was my first!

If you have questions or comments (especially if you know where I get UHMW plastic cheap or free) about this jig, or anything I've done here, please do not hesitate to send me some email. I can be reached through KI4STU at ARRL dot NET.