After the more detailed explanation of the Set up procedure for the big Freud bit (here), this is a simplified version of the same procedure.
It demonstrates how the procedure is actually done, once details such as offset, and exact vertical height point etc are established once and for all for your particular router bit. The real world set-up is a matter of  minutes!

Lock Miter Bit - Quick Guide This time we’ll be using the small CMT bit, made for thinner stock.
Lock Miter Bit - Quick Guide Thinner doesn’t mean less work for this bit, so it’s a good idea to cut off a small corner at the table saw.
Lock Miter Bit - Quick Guide The offset is 0.600”. Look here for a good idea to make this even easier.
Lock Miter Bit - Quick Guide We place the GrooveCenter in the router collet. With the work piece in the Carriage, the Fence Pin indicates the exact position of the Router Fence.
Lock Miter Bit - Quick Guide With the 2-Axis Depth Gauge (look here for more details) register the distance to the fence and using this to set the bit height.
Lock Miter Bit - Quick Guide Again, half way this vertical part is a good start. The exact spot needs to be determined once and for all. (Note it down for future reference).
Lock Miter Bit - Quick Guide The result is perfect!

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