The depth of cut has nothing to do with the bushing as you describe it. The bit will be centered in the bushing, so the bushing acts like a bearing to guide the bit. The depth of cut is still controlled by the router motor/base.

Bushings allow you to use templates to guide the cut. For example, letter templates are used with bushings to make signs. The bushing controls the design, not the depth.

Artisan Woodworks of Texas- www.awwtx.com