I use the bandsaw for both cuts. Actually, it's several cuts because I cut in at the shelf, then make several 'relief cuts', parallel with the shelf, up along the sight window so that when I change direction and cut out the sight window, I'm cutting off little chunks. It's easier on my blade.
After the bandsaw cuts, I do as much sight window work as possible on the drum sander... and then finish by hand.
The initial shelf cut isn't at exactly 90 degrees because the bow limb hits the throat of the bandsaw, but I finish shaping the shelf and sight window by hand, and adjust it then.