The bit I received has a flat edge in one piece and then a triangular ridge nearby of the camp. It worked great for some of our purposes, but I'm pretty sure what's pictured isn't what we got.
Don't want to bore you with a long list of pros. It does what it's supposed to and lasts longer than any other part I've bought. Just never put it on the table, always put it in the holder when not in use. The edges are super brittle, way more brittle than you would think with something made out of metal.
I have used Whiteside Whiteside bits for many years. They are always very well made, very sharp and stay sharp much longer than cheaper bits. Whiteside bits cost a little more, but they're worth it. In addition, the major woodworking trade publications regularly rate and test cutters, and Whiteside is always at or near the top.