Hi Mike
That's what I thought, I have one also but they can be a bit tricky to setup and use, I think Bob and Rick like it because they don't need to remove the fence and replace the bit with a new one and then set it up again with the new bit, you/they can just move the bit up or down and make the new parts.
This is a nice bit to have in the bit tool box but a pattern set is almost a must ,the one I have came from Grizzly and it comes with a bearing to help set it up and it works well but only in the 1/2" shank size.
http://www.grizzly.com/products/c1689
Bj
