About 4 months after I wrote the KNK User Manual, it was discovered that the newest silver bladeholders for the KNK were shorter than the original ones released in Spring 2007. This causes the tip of the blade to be too far above the material to have enough force to properly cut anything from cardstock on up. Thus, if you are a relatively new owner of a KNK, then YOUR bladeholder will probably need adjusting so that the tip of the blade can be just above the cutting surface. (Refer to the photo.) This is VERY easy to do!
Simply unscrew the top of the bladeholder and move the flange upwards by also unscrewing, and then tighten the top down onto the flange. 
