I would hazzard a guess that on the 300 model you can't alter the pressure the blade puts on the media. I'm really not sure on this though. Obviously if you want to cut without damaging the backing you will need less pressure than if you want to cut right through.
I'd experiment but you will definitely need to use the mounting sheet (that I hope would've been supplied) so you don't cut into the black cutting strip and damage the blade.
Let me know what you find.
Can't see any reason why you can't cut vinyl. It's only a tad thicker than paper.
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