I always fold & shape my dough into a rectangle which I cut with a knife into twelve pieces. That way, I don't handle the dough any more than necessary, and besides, it's much simpler. I find that cutting them in rounds results in pieces that have to be reshaped for more cutting, etc., which means the biscuits from the leftover pieces (a) are warmer and (b) have more developed gluten. I also agree with the "grate the butter" technique -- again, much simpler.

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