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There is a bit of tolerance, so you can certainly fasten the screw harshly enough to do those extra 0. Use only on professional routers with 80mm deep plunge and suitable one piece multi-slit collet to ensure safe cutter retraction into base.
Now, the answer to his question IMHO is this: If you are going to be doing this regularly, then it is not advisable.
A slower feed rate is required with down cut bits as this allows more time to evacuate chips and for them to be cut into smaller pieces that fall from the slot. Note that even if you can't hear ,or see it, any wobble does cause wear on both collet and bit shaft and tends to become worse and start affecting the "right" bits too. Our UK router bits are imperative to achieving your desired design in whatever material you are working with. Machine Mart Limited is authorised and regulated by the Financial Conduct Authority, register number 703528 and acts as a credit broker and not a lender.
Our UK straight router cutters come in a wide range of sizes allowing you to accurately cater to your project. As a one-time kludge, ok, maybe, but even then you might want to get another collet and keep track of which one you are abusing. Straight router bits with a plunge point so you can make smooth flat-bottomed plunge entry cuts in the middle of your workpiece. Create stunning glass cabinet doors with profiles to match solid-wood doors made with our rail and stile router bit sets. Damon's answer from 2016 correctly points out the easily overlooked dangers of using a router in this way.
The bit isn't going to have a sufficiently firm, safe grip, and you cannot be sure whether you have structurally damaged the collet by bending the little clamps too harshly.