Why is it always the "Legs" who ask what a Chute knife is! LOL
I was issued a piece of crap orange handled Scharade to cut the lines. Of course when I asked "wouldnt we just use the canopy releases". I was rewarded with "10 to the winds". Thats 40 pushups (10 to each direction). As someone pointed out in the thread mentioned by Phil, the end that would have cut the best was not automatic.
As for cutting away the chute, I don't know. Most of our jumps were 1200 feet or less. By the time you check canopy, get the twists out of your risers, untie your rifle case and release your rucksack, I always found the ground was there within seconds to meet me. Trust me, in the last few seconds you have its best that you spend your time getting your "feet and knees" together so you can execute that "dynamite PLF"!
Phil, that was a good thread on the Chute knife.
Les