When I built my first guitar 13 years ago I pucker up and bought a bunch of expensive tools - most of them from StewMac. I have just completed my 25th guitar and all of them except four barncasters were bound using that router bit set. I've done heads and bodies and pick guards and necks and its still going strong. Lets see, that works out to be about 3 and a half bucks per guitar..... The other thing that I broke down an bought is their floating router setup for doing non-flat topped guitars (which is everything but a tele). I tried several mickey mouse methods of holding the router at the correct angle, finally said the heck with this and bought the machine. Next guitar I build was a 335 and I was so happy I had that tool. I'll add that in my humble opinion, most tele's don't look right with binding unless you have used an absolutely stunning piece of wood on the top. For 99 percent a simple round over looks correct.