The best arrow cutter for carbons is the Apple Pro with dust collector. It is a professional grade arrow saw that provides a fitting to attach a shop vac to suck up all the graphite dust that can be very harmful to your lungs if you breathe it. I paid $200 for mine and thought at the time I was getting a good deal based on the normal retail price. You can buy one on *B*y for $129 plus shipping, which is a fantastic deal. This is the saw most pro archery shops use. It will last a lifetime of hard use, which means you, your kids, and then your grandkids won't wear it out. It also cuts your arrows perfectly every time if you do your part. And the saw still only costs about the same as a dozen good carbon arrows that someone else makes up for you. A Dremel MotoTool or the cheapo saws from places like Harbor Freight work okay, but not nearly as well as the "best" that you asked about, and the Apple Pro is the best -- for a very reasonable price.
Allan