A link below shows a neat, homemade version of the same idea.
www.njqrp.org/islanderpadcutter/index.html . While I haven't made
one using these instructions, it appears to be workable.
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A few years ago I bought a few islander-padcutters through the G-QRP
Club. Excellent for homebrewing with discrete components .
The circular ring removed from the copper clad board is less than 1 mm
wide ,so maximum copper clad area remains ensuring a good ground plane .
Each island can take up 3 component leads
All grounded components are upright soldered into drilled holes , with
the other lead to serve as connecting point for other components.
As an alternative to islands I fit 10 MegOhm resistors upright used as
'insulators' in non-high impedence circuits.
The islands combined with above alternative methods ensure zero to very
short fitted component leads.
Frank GM0CSZ / KN6WH