I usually do a straight cut, but have seen the V-Cut used on torpedoes. Just experiment and find what works for you.
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If it's a flat-ended cigar, I will often punch it, if the end is large enough. I've cracked the wrapper on cigars with a smaller ring gauge.

But I often find that a punch doesn't give me a sufficient draw; by sufficient I mean anything other than a difficult draw, which if I can't correct becomes a reject. If the punch doesn't work then I turn around and cut it. But when I do so, on all cigars, whether I've tried the punch or not, I use a "nick" cut, which only takes off the cap with no tobacco. I do this as, although an extreme example, anything I can do to maintain the cap's integrity, I'll do. A ruined cap is more or less a ruined cigar.

I've become conscious of eyeing the cap to see how far it extends before I do anything.
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I find that torpedos tend to squirt out of your mouth too easily (especially when you are drinking too much alchohol). But, I will definately say that my favorite torpedo out there right now that I have tried is the Diesel Unholdy Cocktail. Absolutely Delicious....and at a great price too!!
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