The specific one I chose is the CraftPro C140 3.2mm Corner Bead. If you use it as I have you just get a bead with a round over.
|Bead profile. The other corner has a 1/4" round over|
If you turn the workpiece through another 90 degrees and take a second pass you get a pencil bead. A very useful bit if somewhat of a one trick (or two trick) pony. THere is a little break out on the square corner when using a brittle wood like sapele but some 320g sandpaper breaks the edge.
As I don't have any molding planes the router will suffice.