This cutter can rebate timber, on the top or bottom, forward or backward, very cleanly, and at a myriad of sizes. You can put an angle on the edge of a piece of timber. You can chamfer edges at basically any size. You can even “raise” a panel by rebating the front to fit into a table-saw-made groove and complete cabinet work.?

Many places make a cutter like I’ve described above, including Hammer, Felder, Rangate, etc. I have a 125mm dia. Spiral cutter from Leitz. I love it and use it all the time.?

And your second cutter should be an adjustable groover, unless you have the dado set?