<i>"While this setup has been working really well for large parts, small components haven't worked out"</i>.<p>Too bad. This is a good idea. I have some boards with lots of small components where this would help, and I have access to laser cutters. Maybe with a thinner plastic layer on top... Also, with small components, getting the placement stencil off without taking the tiny components with it may be tough.<p>Board edge shearing is less precise than the pad placement, and this thing uses a base frame to align to the board edge. Pick and place machines align to reference marks on the board, using cameras. You might need some kind of fine screw adjustment to move the board very slightly.<p>I've seen videos of the Liteplacer, which is a slow pick and place machine for prototypes. It's useful for when you are only making a very small number of boards, because it can work from components laid out in wells or on tape that's not on reels. The production oriented machines require that you have enough components on reels to get the feeders started.