I just bought some full round lure bodies from Stamina and just like I've seen discussed here many times I had to figure out a way to cut an accurate lip slot in the lure. What I came up with was to use a block of wood wider than the OD of the lure body . Next I drilled a centered hole (slightly smaller than the widest part of the body) with a hole saw,vise, and drill press straight thru the side of the block . Size the lure body in the hole after drilling and the tapered shape should wedge the body firmly in the hole perfectly centered.
Figure out what the desired lip angle is and trim the end of the wood block to that angle . This will have the lure body nose up at the proper angle and held securely. You can lay the block on its side for a table saw or standing up for a chop type saw . I put top ,bottom ,and side reference marks at 90 degree intervals on the fixture for marking the lure body for true accurate lines in relationship to the lip slot.