This is a two part problem.
First off, I'm having troubles finding upcut spiral bits that are actually .5 inch. Most range from .49 to .495 inch. This includes Bosch, CMT, Whiteside, MCLS and various other brands. Yes, my caliper seems to be accurate because it measures the shaft size on all my .5 inch bits to be exactly .5 inch. The bits are bought from reputable dealers and are not marked as seconds.
Secondly, what kind of accuracy should I expect when cutting a pocket toolpath. Knowing that a bit is .495 inch, I can either designate a new tool with this cutting diameter, or selecting a virtual .5 inch tool and alter the drawing to obtain the proper size. Using the second scenario, if I want a circular pocket toolpath of 2.2 inches with the .495 inch tool, wouldn't I give the pocket a 2.21 inch diameter? With experimentation, I must give it a 2.226 inch diameter toolpath to obtain the 2.2 inch hole.
To test the accuracy of my inside vs. outside caliper, I've measured the tip of the tool and then cut a .25 inch deep path through hardwood and measured the width of the cut with the inside caliper. The widths are exactly the same.
Any ideas?