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For those people still cutting frets with a hand saw you might want to consider using an oscillating saw and a half moon blade. Initially the blade cut a kerf too wide to seat the fret wire so I ran the side of the blade on a piece of sandpaper to remove some set from the teeth. I used a block of wood as a guide for the side of the blade. Cutting a slot took about 10 to 15 seconds with a single pass.

Oscillating fret saw 2.0
I used wire ties and hot melt glue to attach the oscillating saw to a board and then cobbled together a "table" over top of it. I added a remote switch which I connected to a home made extension cord made from a printer power plug. I had a half moon blade I wore the teeth off of cutting dry wall, so I took a file and cut some ragged a**ed teeth into. I made a simple sliding fence that rides on the sides of the table. It cut surprizingly well! I cut a slot in a piece of curupay without much trouble.
With a little more finesse a person could make a decent looking and fairly low cost motorized "tablesaw" fretsaw.

It would be a little tricky, but I think I could slot a faux bound fret board using my oscillating saw.

I didn't think about that, but they will do plunge cuts and if you used a block of wood as a guide you could keep things properly spaced and aligned.