That is the answer that I was afraid would come. I was just trying to get by without having to invest in a new router. I was recently unemployed for about 4 months and money is tight.
I wanted the 1/2" collet so that I can use the complete Rockler dovetail jig that is on sale. This jig comes with (3) 8mm bits that also includes a bushing that adapts these 8mm to 1/2" and therefore require a 1/2" collet.
Is there a good dovetail fixture available similar to the Rockler complete kit that uses 1/4" dovetail bits?