The advantage of laminated plys is that it will help you guide your shaping. As for looks, I've made some very pretty grips from laminates.
I use a coping saw, hand powered.. just take my times and work carefully.
A band saw or scroll saw would be handy but I would base my purchase based on the other projects I think I might like to do in the future. For me, I think a little belt sander would be one of the handiest tools for making grips but then again, I use hand rasps and sanding blocks and enjoy them.
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