Here is a Link to the "Profile Shapes Wizard" Screen it has quick pick buttons for:
Ellipse/Circle, Rectangle, Triangle, Octagon, Pentagon, Hexagon, and Multi-sided Polygon (as long as the number of side go evenly into 360deg)
This Simple Wizard cuts the center of the tool along the shape, so if you want to offset it in or out, you will need to edit in your G41/42 depending on direction, or just make your Profile One Tool Radius smaller or Larger than the hole you want to cut.
EDIT!!!! ****** 04Oct2010 ****
Graham noticed a typo in the compile code, so it has been fixed and reposed HERE, (with the tool offset options)!!!!
Scott