The 1/2 x 1/2 refers to the cutter diameter and length. The stewmac bit comes in 1/4 shank, as does a 1/2 x 1". A drill press and forstner bit with a depth stop is a good way to hog out the wood before routing, especially in denser woods. Taking a body blank and turning it into a body involves material removal. It doesn't matter how you remove it. Cutting, sanding, routing, grinding, and chiseling are all ways to remove wood. You can do which ever one you prefer to end up with a body. Woodworking is all about learning how to use the tools you have at hand and developing the skills to end up with the results you want. A router and template is one way. A cnc router is another way. A brace and bit and coping saw or jig saw is another way. There have been people here building with limited tools and people with sophisticated tools. You just need to figure out which way you want to approach it. I can't say it enough, the forum is filled with build threads of all the different ways people are successful and unsuccessful with the hobby. The build threads are priceless and although it takes time to get through them, they are one of the most valuable resources on instrument construction that you can get for nothing more than your time. Although the template and router are the most common ways to make a tele body in 2017, there was a time when those kinds of tasks were only accomplished in a factory. So what would the person do who wanted an irregular shaped object in their home workshop? They learned how to use the woodworking tools they had. As an example, pick some curvy high school magazine rack. No templates and router were used to shape it. A bandsaw or jigsaw, spindle sander, and belt sander were used. I'd suggest you decide what resources you are going to use to transform a rectangular piece of wood into a guitar body and then proceed in that orderly process. In a home shop, it is common to have a table saw, jointer, drill press, bandsaw, and planer, and router for machines and tools. There are workarounds for all of them. Personally I have found little use for a tablesaw in building guitars. Others would be lost without them. For this tele body you need to either glue up and plane a blank, or buy one. You need to shape it with a router, saw, and sander. You need to drill holes with some kind of drill whether it be by hand or power. You need to put the routs and shape in the correct spot, and that starts with a good drawing available above. In the 2014 or 2015 build challenge, there were a couple entrants with no experience. You should check out those build threads.