Thanks for the input guys. It will be behind a plastic panel, away from view and especially away from the rain. Here is where I plan on mounting it:
Wood might be easier to make a square box out of, but it surely isnt easier to cut. I am using a dremel tool to make the cuts, and wood wouldnt be too much fun to cut with a little dremel. And since it will be out of sight, im not worried about the appearance of the case a whole lot.
I bougth some plastic stand offs today, and they work great. Thanks for the help guys, I'll let you know how it turns out!