Stretch2,
Thanks for the build a long. I've been considering a Veritas dowl cutter for a few months but haven't made up my mind if it is worth it. It seems that you are pretty happy with yours, though. Comment on it if you wouldn't mind.
So far I've used carbons and cannot complain with their quaility. I've footed mind to keep them in good running order. Do you think the wood arrows are even near the carbons for consistancy and accuracy?
Do you use heat to straighten and harden the shafts?
BTW, if you were to chuck the cut end of the dowl into your drill you could continue to cut the last 4" of the squared end through the cutter if it is worth it for you. Just a thought.