Any point in using LIMIT in EXISTS query?

Fiddling with my query a bit, I noticed that EXISTS still returns 1 if LIMIT is set to 0. I assume this indicates that it's being ignored.

The purpose of EXISTS() is to perform the query only until it can decide if there are any rows in that table matching the WHERE clause. That is, it logically does the same thing as LIMIT 1. EXISTS is probably called semi-join in some circles.

Bottom line: Don't use LIMIT 1 inside EXISTS().

Addenda: As Paul points out, a LIMIT with an OFFSET (or LIMIT m,n) does have meaning.