Yeah, right . . . . a brand new fence is warped . . . . (as I run out
to the garage to check).

Well, the fence is flat . . . unless the height adjustment butterfly
knobs are snugged up . . . then the fence deflects at the knob
locations . . . . about the same offset I am seeing on the boards. The
Dewalt 746 has 3 knobs to lock down the height of the fence (1 at each
end and 1 in the middle). Each of the knobs exhibits the deflection
behavoir. If the knobs are just barely snug, no problem . . . another
half turn and deflection occurs. Apparently I had the center knob
tightened more than the outer ones.

Can't wait to rip some wood to see if this is the root cause.

Great suggestion.

Mike