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You may know about this old trick bit if not here it is.

When you insert the hollow chisel put a dime between the stop and the top of the hollow chisel. Insert your drill bit and let it just touch the bottom of the hollow chisel. Tighten up the drill bit. Then loosen the set screw for the hollow chisel and move it up till the top of the chisel mount touches the bottom of the mortiser. This gives you enough clearance for chips to exit the chisel and not heat up and burn your bit.

Occasionally use a very fine diamond stone on the four outside flat edges of the hollow chisel. Just a few strokes. Then they make a cone shaped diamond home to polish the inside cone of the hollow chisel. Hone when ever you feel a lot of resistance.

When cutting your mortise, start with the two outside edges to get a nice clean mortise. Then start on one side and drill only about half the distance of the bit width and progress to the other end. So if you have a 1/2" mortise bit then step over about a 1/4" inch each stroke. This takes a little more time but you get a better cut and a straighter mortise.

When you insert a new chisel in the mortiser, leave the drill bit out. Use a ruler to square the bit side up with the fence. Since the fence is fixed you should adjust the hollow chisel. Use the dime trick from above. After your get it square and insert the drill bit, remove the dime and recheck the squareness to the fence and tighten the hollow chisel.

With my advise you will be come a real chiseler, and can be called a dastardly chiseler.
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