Was reading up on using them yesterday since they will be on my 408 MT, but this is for the Phase II ones, but I take it restringing is the same as the IIIs.

In this picture here, what tool is this?
They say to use a coin, I take it a nickle is about the right size?
I like the looks of that tool better though.

With my Planet Waves Autotrim locking tuners I have on all of my guitars right now, there is no string wraps on the peg at all since the cutter cuts it off near the peg.
Do you have to do any wraps at all with the Phase tuners, or do you cut the string off near the peg once you start turning?
By this picture it does not look like there are any wraps at all.