Well, for my Axel wig, this is what I did, and it seems to work out well, with only one minor detail. I used a Punky XL in the black and red from Amphigory as the base wig. To make the widow's peak in front, I actually did trim a bit out of the wig cap to form the peak. Since stuff was loose then, I used superglue to seal the edge so it doesn't fray or unravel. It seems to work fine, I've had no real issues with it. Only problem though was the superglue. The bit that's sticking out from under the wig cap sometimes rubs on my forehead and itches. So, what I did to remedy that is put a little strip of felt under the edge of the peak and sides and liquid stitched it on. Worked great, and looks great. Only thing I wish I did do (and I may do this later), is make some wefts and sew them into the back of this wig. The spikes aren't likin to stay out. The top is ok, plenty of hair there, but it thins out in the back. Later on I may take another punky, rip it apart and sew the wefts into this wig. But, no money for that at the moment.
Btw, adding to the above cutting the wig comment.. I did attempt it first on another punky I had, to make sure it'd work out ok. It did. XD Just gotta make sure to seal the edge with some type of glue, or you will unravel.
*Edit* Oh hey Richie! What i've seen done for peacebonding Sitars... They usually wrap the peacebond material (either plastic or zipties) around the neck of the sitar, close to where the base is at.