Hi Bill, and welcome.
I'm with Mike on this one. A router bit is a lot less expensive to buy or to sharpen. If you cut a lot of melamine or other laminates (unless it's the sprayed on kind) you'll find your tools dulling rapidly....at least, faster than if you were cutting wood. For that reason alone, I would choose a router bit.
'The true soldier fights not because he hates what is in front of him, but because he loves what is behind him.' G. K. Chesterton
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