3ds max standard cut tool is old compare to other 3d programs (such as Maya or MODO).
So, Idea for Upgrade:
- When Ctrl pressed: Snap to edge center;
- When Shift pressed: Snap to vertices;
- When Alt pressed: Slide vertex along the edge aka edge constrain(for example with step - 1%);
- When Ctrl + Shift Pressed: Activate Quick Slice tool(also exist in Max);
- When Shift + Alt Pressed: Remove vertex(by mouse click);
In max exist tool with similar logic - Swift Loop;
I think most of proposed features are possible to do in next Max release.