Can it so let's say 0.5mm pitch qfn?
See attached image - Spartan 6 LX9 TQFP footprint, which is 0.5mm pitch but QFP. This is after I've used the stencil once, and the caps around the side are mostly 0402 size. This is with zero tweaking to file... open gerber in GUI, hit buttons to start cutting. I've cut 0.5mm QFN stencils w/o issue before but don't have any around right now.
Only thing to change is cutting pressure depending on the material, but there is a script which makes a bunch of test cuts. Once you dial that in shouldn't need to tweak.
You might have to shrink apertures bit of course depending on thickness of material you use, but that would be the same for anything I assume. I'm using Eagle so that's easy to do when generating the stencil layer.
Overall I was shocked how well it works, especially from what is a machine for crafting. I had little desire to spend time screwing around and just wanted stuff to come out ready to use, which is basically how it worked for me. The material is key... I mention in my link what I think was 3 mil Mylar Drafting Film from the local craft store worked far better than the transparencies other people seemed to recommend.
Bit of pain clearing all the holes
Might need more pressure to improve cut through? Alternatively a different material... I've had great luck with drafting film (mylar). Almost all the cut-outs stick to the cutting pad, which can be scraped off easily.
HCT2-120...I didn't find I have to have mine at 450°C though.
Good to know, thanks for the info! I'll have to play around with lower temps then... had trouble getting things to quickly flow at much lower than say 400. I might have just been impatient however! I think I was overall hoping to magically faster reflowing as their demo video seemed to show, so might have been partially psychological on my side why I wanted it faster ;-)