The picture shows straight sided splines; I have cut many by using two slitting saws ganged together at the proper width and then using a wider cutter to clean out the bottom; most straight sided splines do not bear on the bottom of the space between the teeth. The biggest obstacle, as many have said is the indexing it must be quite accurate for a tight fit; if the fit is not tight due to poor indexing and having to make the fit sloppy to assemble, the life of the splines will suffer. Later on in my spline cutting career, I bought spline cutters that look like a gear cutter, being form relieved with the proper angled sides and a female radius in between; I bought them from Ash Gear Co.
Perhaps our poster of this question should make friends with someone who has a milling machine and dividing head!