I did this mod yesterday and I just thought I would contribute my way of cutting the channels. I created a basic jig using a 3/8 piece of "craft wood" from HD. I had to shave it down slightly to get the channel on the end of it, but a tight fit is what your looking for. I then put a piece of card board on top of the wood to compensate for the thickness of the aluminum. I took the appropriate measurements and then used a C-clamp to hold down a guide board. I then used a jig saw with a metal cutting blade to cut the channel.
Note: Don't forget to keep the blade lubed.
Cell Phone pics included for a guide.
Update: I think my channel was not 3/8 maybe 5/16 even though I peeled the 3/8 sticker off. Like I said I had to shave the board for it to fit and it was and extremely tight fit on to the intercooler, I had to lube it up with pblaster and even then it took hammering not tapping. I hope my extra force didn't hurt the integrity of the intercooler.