The method I used is pretty much identical to the typical toner-transfer method. The only thing I did different was use the sponge technique in lieu of soaking the board in a container (takes longer, wastes more acid).
The paper guillotine might work well, since people use PCB cutters that do pretty much the same. I already had a bandsaw, so it made it very easy to cut what I needed.
http://retromaster.wordpress.com/pcb-making/
This guy does a great job at making PCBs, including applying soldermask.