Rusty, the key to understanding up cut and down cut is this: do you want to pull the waste away from the cut? Most of the time the answer is yes. Table mounting means the direction is reversed but still pulling the waste away from your cut. This is why the up cut is the most popular of the two choices. The down cut bit pushes the waste into the cut. This is used to help prevent tear out on the top surface. A good example would be on veneered plywood to keep the veneer from pulling away from the ply. So up cut means away from the closest wood surface to the router and down is towards that surface.
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