One last question before i'm finished with this project. When I cut out the hole for the sub and terminal, do I need to caulk it? If so, how much should I use?
Use some marine-grade silicon to seal up the terminal plate and use some good 1/4" poly-vinyl weather stripping behind the lip of the speaker to seal things up nice. If your really in a panic about sealing up around that speaker, use some rope-caulk. It usually sold as "rope weatherstripping" at Home Depot stores.