For me, it depends on the project and whether I want the fabric held together until I can get a first row of stitching through it or separated as individual pieces.
For minimum "meltage" go fast and press hard with a metal straight edge to let the knife do much of the work. Pulls apart easilly, but eliminates much of the fraying.
For maximum "meltage" mark the line first and free-hand it slowly with little pressure. Holds together better.
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