I agree with Dan and Floyd. Since you had the cover off, the wires to the right cover switch are probably what is keeping the bit plate from flipping out. There isn't ANY clearance room and if not tucked or secured in the right place it will cause the problem. With that said, I had the same problem and tried everything including removing the wires entirely and the problem persisted. With a closer inspection I found a small wood chip below the Y belt tension spring. When I removed it everything worked normally.