I also just got a dw733 and paid $150. He threw in a dunlap lathe too. I am having problems raising it above 2-1/2" though. You seem to have had yours for awhile so hopefuly you know what I may be doing wrong. The crank gets real tough to turn and eventually just stops.
I'll check mine out tomorrow but honestly haven't raised mine that high before. Check the threaded rods that elevate the cutter-head and be sure they are clean and free of any nicks or burrs. Good place to look would be wherever the top of the travel stops?
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