I want to make a bunch of bokken for some local univserity martial arts
clubs.
(A bokken is a wooden sword based on a japanese katana, for those who
don't know the term).

If you look at a picture of one, you see that the sword itself has
basically an oval cross-section with a few flattened sides.

Anyway, I think I can deal with most of the aspects of this, but I
can't think of an easy way to make something with an oval crossection
short of sanding it to death on a belt sander and jointer.

Even doing it on a sander, I would like a way that I can precisely get
something perfectly symmetrical.

If anyone can think of an easy way to do it or give me pointers on
where to look, here are the tools I have:
table saw
jointer
belt sander
bandsaw
drill press
various hand tools