I would like to add a couple of things to the other posts. I have a stop on my hacksaw blade that limits my cuts to 1/32". This is just a piece of 1/16" sheet folded over to fit tightly over the back of the blade. I use screws through the stop to tighten it on the blade. It takes some time to make the stop, but it speeds up cutting out the slot. Once I have cut a series of slots with the hacksaw, I used a die sinkers chisel to chisel out the remaining metal. I then use a 3 sided file (safe 2 sides) to quickly clean out the slot and start the dovetail notches at the end of the slot. Once the barrel loop/tenon will start into the slot, I use a cold chisel ground to fit down in the dovetail slot to raise the dovetail notches. You then slide the barrel loop/tenon in and then punch the metal of the dovetail notches back down around the barrel loop/tenon. I can do this in less than 15 minutes per barrel loop/tenon or sight base. The die sinker chisel to remove metal quickly and the cold chisel to raise the dovetail notches really speed up the process. Using this method, there is no way you could do this quicker or better with a milling machine.
Mark E.