I am currently building one, but I am trying two different globes for the battery, the suggested 8" acrylic globe from home depot, and a 200mm Christmas ball from Walmart. I have found it easier to make the side holes for the handles with a soldering gun with a fine point. To find the center point on both spheres, I put a rubber band around the center of the globe, in the opposite direction of the existing seam (it is there, it's part of the manufacturing process). I eyeballed the globe, adjusting the rubber band until it was level across the center of the globe. Once centered, I marked a point above and below the rubber band at the seam. I then centered short section from the 1" pvc pipe over the marks, and traced a circle on the globe. I put the globe inside the bowl that was going to be used for the light funnel, and, keeping my hand holding the soldering iron steady, rotated the ball in the bowl. This took two passes, but the cut was smooth and there was no pressure to shatter the globe. I then turned the globe over and repeated the cut on the other side.
I also find the rubberband method useful for making the groove around the lantern. You just stretch the rubber band over the globe baseball style, then mark off your lines. I also used the soldering iron to make this grove, using the bowl technique to keep the lines smooth.
On the Christmas ornament battery, I am going to cut a section from a previously shattered acrylic globe to make the covering for the led's, as the ornament is solid colored plastic. Incidentally, I found a fairly bright 19 LED light at Big Lots for $5.00 that can be hacked to fit in the power battery pretty easily. The only downside is it uses a battery pack, but I am rewiring it to use a 6 volt transformer.
I am still looking for a reed switch that would work with a six volt DC transformer. If any of you have any leads, please pass them along!