Are you sure it was only going 1/8" deep? Do you run a vacuum system on your machine? I would start by cleaning your bit with some pitch remover and then inspect it close. If it feels "SHARP" then I'd say it's ok. The edges should really feel sharp, I've actually cut my fingers removing it from my collet before. I'll tell you something else I do when I do a cut out, like you did use .125 max cut but I also have a hose that I connect to the exhaust of the cut motor (a hose off my 5 gal shop vac) and put it in the slot on top to help blow the chips out while my vacuum sucks it out once it's air born. Yeah I know a lot say it's not a good idea to do this but I've done this since day one and never had a problem, KNOCK on WOOD.
CarverJerry
ver. 1.188 Win 7- 64b with 6 GB ram @ 2.8Ghz and dual 1Tb hard drives. Rock Chuck & Ringneck vacuum system hooked up to a Harbor Freight large vacuum. Center line text, conforming vectors.