bigmike, that question has always been in contention.
IMHO, it's up to the individual, niether way has an advantage over the other as long as the ball is completely surrounded by the patch.
If you cut at the muzzle, all that's needed is a sharp knife, it doesn't have to be marketed as a "patch knife" to do the job. Put a sharp edge on a butter knife, cut the patch with it and it's now a patch kife.