I picked up a new Xuron Track Cutter at my local hobby store for $17.95 and it cuts track like butter! I had been using a large, heavy cut off plier, put it was leaving a large v behind. I've also used by Black and Decker muli tool with cut off disks but that's a big pain. It takes longer to cut through the rail and the cut of disk are always braking.
So far the Xuron is cutting track great and leaving behind barely anything to file off.