Not to stir up anything here, but like any other bulk manufacturing
not all of it is the same. I had an interesting talk with one of the
engineers at Jointech (there manufacturing facility is about 5 miles
from me) when I bought some bits from them. Apparently many of them
are made in the same plants, and they are "graded" for appearance,
grind, and assembly. That determines who gets what, and what they
charge. This guy told me their minimum order was 10,000 bits, with
the big breaks coming in after about 25,000 bits.

Jointech really understands the coefficients to determine how much
router bit to buy. I bought a multibit and a small door set (similar
to the Sommerfield) and the work great. Having only used them once to
make a small box lid, they were a great buy. If I had spent 3X for a
set of CMTs, I would have been ****ed off at myself for letting the
dough go on something I very rarely use.

I have bought no name bits at woodworking shows that work great. I
have paid a lot of money for bits that aren't worth a crap. MLCS
seems to strike a nice balance there.
I use the MLCS bits, make sure they stay clean (the very best thing
you can do for a bit) and when they get dull I toss them unless I
think I can touch them up with a diamond file. But they are so
cheap....

I think the key is to buy from a reputable dealer, one that will take
care of you if you have any problems. I have never heard one bad
thing about MLCS service, from me included when I needed them. A
little chip of carbide came off the straight bit I was using for a
dado, and when I sent them a pic via email, they sent me a new bit.

Robert