Regarding paper cutting, and clearances, on my imperial I adjusted it so the reel only just bottomed out, then raised it only just enough (say 1/8 of a turn) to only just clear it. After fiddling around a little longer I worked out it wasnt going to cut paper and having the reel as close as possible to the bedknfe worked a treat.
Deejay will give a more thorough explanation later I am sure
