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I've found that with my 1617, that there are two "steps". The first pull of the wrench seems to loosen the collet, but if you continue past the point where the collet nut is loose, there's another point where you run into resistance. I need to give it another turn or two beyond this point to get the bit out.

If that's not it, check the inside of the collet for rust. If you find it, use a bit of penetrating oil and some 0000 steel wool to remove it.
 

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as stated the Bosch 1517 has a self-release collet. when you untighten the bit, it'll self release it, but still keep it gripped - then as you continue to turn the wrench you'll feel the collet tighten up again - while continuing to turn the wrenches the bit will be fully released - "2 steps" this is how all self release collets work.
 

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Just a question for clarification … does this just happen with one bit, or with all bits?

I ask because I had a similar problem getting a 1/2" straight bit out of the collet on the PC-6902 in my router table. Other bits were fine, so I sent the problem bit back to the manufacturer, which in turn confirmed that the shank was 'out of tolerance' and sent me a replacement bit.
 

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Never used a Bosch, but the two "step" description of how the collet works is exactly how the collets on my Hitachi routers work. The first step lets go, and you can spin the bit in the collet, but not remove it, turn the wrench another half turn and you hit the second stop, loosen past that and the bit will come out easy as pie.
 

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I have both Colts, which I find have an easy to use chuck, and have never had a wit of trouble with it. I also have one of those damned 1617's, and it's been a royal PIA the time I've owned it.

I bought a Muscle chuck for it, and it does cost a bit, but I've never had a chuck work as well, and been as easy to use. I got mine from Lewis Stepp at Router Boss. I believe Lew has the best price, at least he did when I bought.

https://www.chipsfly.com/quick-change.chucks.html
 
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