I also have the Knipex 7401250. Never use it anymore since getting the 8" Fantastico which cuts as easy, or easier, due to the design, and it's significantly more compact.
The only drawback to the NWS is that the jaws don't open as much as the typical plier because of the high-leverage design. But if you want to cut cotter pins, then it opens more than enough. You can't go wrong with either, but I prefer the NWS. I know comfort grips are despised by many here, but the NWS ones are fantastic; way better than Knipex.
The NWS shouldn't be viewed as a replacement for the typical 8" cutter, but when you want to actually cut something big, it's the way to go. I've cut hundreds of nails with mine and besides some chrome flaking off the cutting edge, the cutting edges look new.