Any thing else to do? I've heard people freak out when doing this and I want to be sure I'm doing it right. No need to keep water flowing over the bit?
One tip - do go slow as you can melt the acrylic and get the hole-saw stuck into the acrylic (and a real b*tch to get out w/o breaking the acrylic)... Don't hurry, and don't get the acrylic hot.