I have been back and forth on selling, keeping, color choices and more regarding this project.
I have finally come to a decision, here is a mockup of what i have decided to build (minus the jag/jazz tremolo) as it is a jagmaster.

There is still alot which needs to happen to finish the project, but i decided to install the "clay dots" today.
I followed what Jazzblaster did http://www.offsetguitars.com/forums/index.php/topic,19512.0.html, but i decided to use Lepage plastic wood (its all i could find in the garage at the time, figured i would give it a go)

Drilling out the pearloid markers:

(Hint - Try and drill as close to the center of the dot as you can, otherwise you risk fretboard damage when popping them out if they dont break or come out on their own.)
Plastic Wood slathered onto the fretboard:

Let dry for a few minutes, and scrape off excess material:

I then doused it in oil for the fretboard (the Olde English brand, the label is gone off the bottle)
And don't laugh, the nailclippers came in handy, the cuticle pusher worked quite nicely to clean around the dot area.




From a distance, looks pretty good


Heres a pic of a real '64 Jaguar neck with clay dots, and my jagmaster neck as a comparison.

Next up! Prep the body and headstock for paint!