does the suction vacuum work?

Not sure, I do not have 3 phase so have not had a chance to wire it up. I should point out it is not technically a vacuum pump but a blower made by Dayton in the states. If you were keen on the machine I could take it to a friends to test.

Does it cut accurately to size?

Yes it accurate to within 0.5mm im being conservative here. But I would assume for your job this would be within tolerance?