Hi people, using a 12F629 and programming

INCLUDE "modedefs.bas"
DEFINE CHAR_PACING 1 'THIS DOES NOTHING HERE...

'SET INPUTS AS DIGITAL
CMCON = %00111111

lazo:
serout2 0,32,["1234567890"] '(1)
pause 20
goto lazo

I can see the serial output on my oscilloscope's screen, going at about 19200 baud and repeating with pauses in between. Reading the manual I understand that to set the baud rate to, we can say, 50000 sps, I must program
1000000/50000 - 20 = 0, instead of 32 in the line (1). If I program a value under 12, I get the pin going from 0 to 5volts (Vcc) randomly and of course no serial signal. The piece is running at 4Mhz from its internal RC oscilator. I read that 12bits PIC does not support serout2 because of its limitations, but it works (PBP v2.46) untill 19200 baud. What I am doing wrong?

Thanks