I've made them like this for years and they always turn out perfect for me. The wheel is hard to hold on to and gets hot when cutting the center hub with the hole saw so I use a strap wrench to hold it.
To prevent the wheel from spinning while holding it glue a peice of 80 grit sandpaper to the block below the wheel and it wont slip so easily. Better to use a clamp or jig or some sort to hold it in place. Method is pretty good though. Love the music I was brought up on that stuff.