[color="Blue"]The ONLY thing I can think of is the bit wasn't centered, but you all ready checked that. The depth limit woudn't cause it. Take the bit out of the chuck, take the chuck off the spindle and reinstall them. Also roll the bit on a flat surface, just to make sure it isn't bent.[/color]
SS 500(09/1980), DC3300, jointer, bandsaw, belt sander, Strip Sander, drum sanders,molder, dado, biscuit joiner, universal lathe tool rest, Oneway talon chuck, router bits & chucks and a De Walt 735 planer,a #5,#6, block planes. ALL in a 100 square foot shop.