I have a Xikar V Cut that I haven't decided what cigars I like to use it on yet. It WAS nice on a torp though. I punch cut almost everything anymore.
In regards to orientation when smoking, definitely vertical as it seems like it wants to close when done horizontally, especially once it gets warm and moist...(ha)
In regards to which direction you cut it...who gives a flying........... Not sure how it matters what direction it is in regard to the label. I guess a box press that is overly rectangular would be weird if you turned it so you have it the correct orientation.