Date: 10/27/2008 3:40 pm EDT
Buy a dry-cut diamond blade with a minimally segmented rim and you'll have that blade a long long time after this project is completed. Don't expect to saw completely through the tiles with the dry-grinder method tho. The trays will present a slight issue, so be prepared.
A diamond wet saw is the best most efficient way to cut those tiles and the toilet flange can also be done with a wet saw.
You can rent tile saws.