I'm an experienced locksmith and I know my tools. This cutter consists of a welded steel cylinder, which has a clearly elongated cross-sectional shape at the teeth of the cutter, which leads to instability in use and roughness of the edges of the resulting hole. I discussed this at length with Morse and they just told me Morse couldn't afford to do anything better. They didn't offer me a return/exchange option and were not at all interested in checking the shoddy processing they are responsible for. It is indeed a sad day that the American industrial giant is rejecting competition from Asia. I had a similar experience with a historically reputable American file manufacturer, but they rectified the situation and acknowledged the problem.