  A large class of deconstructed Higgsless model is known to satisfy the
tree-level experimental bounds on the electroweak precision parameters. In
particular, an approximate custodial symmetry insures that the tree-level
$\rho$ parameter is exactly one, for arbitrary values of the model parameters,
and regardless of fermion delocalization. In this note we expand on previous
work by considering the fermionic one-loop contributions to $\rho$, which are
essentially due to loops with top and bottom modes. We analyze the dependence
on the number $N$ of internal SU(2) sites in models with a ``flat background''.
We find that the new-physics contribution rapidly increases with $N$, to
quickly stabilize for large values of $N$. Experimental upper bounds on $\rho$
translate into lower bounds on the mass of the heavy fermions. These, however,
are weakly correlated to $N$, and the three-site model (N=1) turns out to be
already an excellent approximation for the continuum model ($N\to\infty$).
