[Jamie]

I filled in one toggle switch hole on the side of a Philco tombstone model. I used some kind of plastic wood filler that dries as hard as a rock. It was advertised as being stonger than real wood, and I believe it. The problem with it, is that it doesn't take toner like real wood. This particular radio needed the sides and top refinished with extra dark walnut, almost an ebony look, so I was able to hide it well.

If I needed to patch a hole on a cabinet with pretty veneer, I'd probably try to go the same route you are thinking about. The only thing I'd do different, is that I wouldn't punch out a perfect hole for the replacement veneer. It will leave a circular outline that will be impossible to hide. I'd probably remove some veneer around the hole on the cabinet, just to give the edges a bit of raggedness, then try to cover it with a custom cut piece of scrap veneer. Ragged edges, if matched up properly are much easier to hide than an edge that's perpendicular to the original grain.