At least I can get it to do something now (with build 20). But I don't think it can do what I want (what CUT.EXE does), namely select the fields/columns to be output ... like this
If I read the help correctly, it can only move, copy, and remove. Outputting the selected fields seems more useful.
v:\> echo My dog has fleas. | g:\gnu\cut.exe -f2 -d " " dog