Stepped rabbet bit - Pros / Cons

Hello,
Eagle America has a stepped rabbet bit available that looks interesting. As a newbie, I wanted to get some opinions about it from the more experienced members here. It seems to me that you could achieve the same results using a standard rabbeting bit along with multiple passes. They state that you can perform the cut in one pass with their bit.
http://www.eagle-america.com/html/catalog/productGroup.asp?id32946
Using the dimensions from their bit as a reference, along with a standard rabbeting bit, would I be correct in thinking that you could cut a rabbet 3/4" wide (C1 + C2) by 11/32" deep (L1) on the first pass and then cut a second rabbet 3/8" wide (C1) by either 1/8" or 1/4" deep (L2) on the second pass? I suppose that it might take more than just two passes, depending upon how much material is being removed, but I'm not questioning that aspect of it. I'm just curious as to the technique involved to accomplish the same task as their bit.
Just trying to learn. Thanks in advance to those who post a reply here.
Peter.
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On Wed, 29 Sep 2004 22:30:20 GMT, "Peter Bogiatzidis"

you are correct that the cut could be accomplished with a single standard rabbeting bit. it would involve changing the depth setting of the router and the diameter of the pilot bearing between passes.
the advantage of this dedicated stepped rabbet bit is that it will make the same cut every time without a lot of fussing around. for picture and mirror framers the time saved is well worth the $60 bit. for me, it isn't.
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