I was just wondering how to make a look-alike wood border for the in-cabinet version, like the on-wall speakers have, with the least amount of work and expense.

One idea I have is to use some 2 to 3 inch dowels, 45 degree angle corners. Then sand down the portion where it makes contact with the speaker and with the wall. Then stain a proper wood finish. Then mount the wood to the wall around the opening. Then mount the in-cabinet speaker to the wood (with a brace underneath the speaker from the backside).