I bought the buckle that goes on the wall end of the strop from Larry http://www.whippeddog.com/products/view/buckle-sold-separately-bu and put it on the squared off end of the Poor Man's Strop. I used the arrow on the other end as a handle a few times but found it too long for my liking. To shorten it, I stuck it back through the square hole (from the top side) and found that this was a much better length. After a few more shaves I noticed that I wasn't using it as a regular handle but I was putting my index finger through the loop and applying tension that way. My final change was to reduce the size of the loop a little by moving the arrow head up toward the wall until it was just on the wall side of the hole and then gluing it in place. Been using it that way for over a year and going to stick with it.
I've got paracord inbound, but I'm not sure what to do with it when it gets here. Any suggestions beyond Googling "paracord braiding"? Can you recommend a good site?