The bulk of what I received is a somewhat rough cast steel with dozens of small cast bubbles protruding from the surface. It shows traces of hand finishing and sanding. The cutting edges are fairly accurate and it cuts through mild steel, albeit very slowly. A more serious problem is hole concentricity for the user-installed guide. As a result, the cutting head sits slightly askew on the workpiece, which means that only one of the cutting edges does most of the cutting work. Don't expect it to last long with regular use. Ed B