I'm working on a new workbench that is based loosely on Ron Paulk's ultimate work station design and has 160 holes on 4 inch centers in the 3/4 plywood top. I looked at threads of others experience and decided to give the relatively inexpensive Freud bit a chance. Before it arrived, I bored 1/2 holes with a spiral upcut bit I already had. The same day the Freud bit arrived from Amazon. I didn't like the 1/4 shaft and it did slip a little but the bit worked great! Minimal chipout on the underside and low resistance to the plunge. There is no bottom cutter but the side cutters angle downward a little. I don't know how it will do without the 1/2 starter hole but I may try it without next usage.
I used the special router base for my PC 690 that positions the holes using pegboard which I got from Home Depot (the pegboard, not the router base). I was a bit disappointed with the drift in hole spacing in the pegboard but otherwise this also worked very well. I guess I should have looked harder for 1/4 pegboard, the maker of the base indicates it is higher quality.
I used the special router base for my PC 690 that positions the holes using pegboard which I got from Home Depot (the pegboard, not the router base). I was a bit disappointed with the drift in hole spacing in the pegboard but otherwise this also worked very well. I guess I should have looked harder for 1/4 pegboard, the maker of the base indicates it is higher quality.