I prefer using a bearing guided bit. It works with any diameter bit, you just need a short bit.
Reasons to not choose one of the other choices:
Using a bushing requires that you get a router that can accept bushings, preferably without having to spend big money to get a bushing to work. Lots of routers have compatibility issues with the standard Porter Cable bushings. Also, you have to keep track of the bushing and the router bit you used to set up your jig the first time so that you can find them the next time you use your jig.
Using a fence to guide the router requires that the same router be used every time, and that the router be exactly centered on it’s base, otherwise you can damage the fit of your jig if you don’t orientate the router to the jig the same every time.
In woodworking there is always more then one way to accomplish something.
Reasons to not choose one of the other choices:
Using a bushing requires that you get a router that can accept bushings, preferably without having to spend big money to get a bushing to work. Lots of routers have compatibility issues with the standard Porter Cable bushings. Also, you have to keep track of the bushing and the router bit you used to set up your jig the first time so that you can find them the next time you use your jig.
Using a fence to guide the router requires that the same router be used every time, and that the router be exactly centered on it’s base, otherwise you can damage the fit of your jig if you don’t orientate the router to the jig the same every time.
In woodworking there is always more then one way to accomplish something.