Cut paste is mostly unecessary.

Green top cut paste, mostly. Orange glue-type for deciduous cut back in fall.

I am trying a new type of cut paste, is inexpensive, is a latex joint compound type-A,  comes in multiple colors, so you can really freak your friends out. I figure if the Japanese guys do it (and they are always looking for shortcuts), I will too.

I have only seen it in a single Japanese Hardware Store- who know. Use on everything.

Chris, vasaline (and preparation H) is something that Nick Lenz had come up with. I think he was talking about Larch with these products.
Jay

Cut paste is always a fun debate....  Does it keep harmful microbes out?  Do the millions in the air land on the cut or get transferred by the tool then kept nice and comfy under the paste?  I quit contemplating it a long ago.  I've healed cuts with and without cut paste on a number of species and cuts covered heal faster and look better overall.  That's good enough for me.  It seems like the cut paste, liquid, colloid, etc is most beneficial for the healing process to start.  After that, who know if it needs to stay on?

We use the stuff that looks like grey bubble gum here for deciduous cuts from pea size to baseball size.  I personally like the Green Cap stuff and a piece of aluminum foil stuck onto it.  The warmth seems to heal the cut site well; faster is unknown.  But it works.  I've been seeing a lot more of something that looks like melted grey plastic on more Japanese maples lately.  I'll find out what it is.  I put the orange liquid type on confers when I crack conifer branches more than "planned".  It may just be to make me feel better.