i have a friend who actually worked for an 
animation studio, and i've seen the rippled edge 
effect before. according to her, is *is* from 
where the roll of acetate ends, however, only the 
length of the cel should be affected by this, not 
the height (meaning that there should be the same 
ample amount of space for registration holes).

the only thing that i've ever heard of having no 
registration holes is when *ahhhh!* former owners 
crop *aahhhh!* their cels to frame them or to fit 
them into cel books. that's just sick... *ahhhh!* 
seriously, i don't think that i could ever cut 
one of my cels rather than get a bigger cel book 
or frame.... the agony and gore of it all...

haruna