There's more than one way to skin a cat. Same goes for making a mortise and tenon joint. Here's yet another way - the Trend Mortise & Tenon Jig. With the exception of the router, this jig package comes with everything you need to make mortise and tenon joints (and loose tenon moritses if you prefer loose tenons). I picked up the package for $275 US (without sales tax) at this year's Woodworking Show. That's 25% off the normal price of $375 US +/- $5. There are three accessories available - an additional set of guides, a dust collection package (~ $16) and a video about using the jig ($10). Here's a link to the Trend USA site.
Here's what I got in the Woodworking Show special package
- the jig with all it's hardware (clamps, knobs, screws and even an allen wrench and set up guide)
- a set of seven router guides for making tenons of various thicknesses
- a set of five1/4 inch shanked router bits
- a depth / height gauge
- a user's guide
Here's the assembled jig - the fourth clamp is not installed. Note that the jig allows for varying the tenon (or mortise) on two axis, Though not specified in the documentation, limited angling on the third axis is possible by rotating the top plate
It can do mortise and tenons from 1/4 inch to 1 1/4 inches in 1/16th inch increments from 1/4 to 1 inch and then 1 1/8 and 1 1/4 inches. Here's the concepts of this jig.
Here's the idea in an equation and a table.