Apologies for reviving this ancient thread, but i fear i was about to create one with an identical question.

This is the basic set i'm stuck with (i know, the rubber handle is ridiculous, but the price was certainly right)
I've got the lock in question solved, and now i need to decode it.
Yes, the set comes with the decoder, however from the various 'guides' (of which there were not very many on the subject of decoding) and the decoder itself i notice:
-it has 8 numbers
-it has 7 notches
(see picture for detail)
Usually i would assume that either 1 or 8 is to be truncated, and measure the rest easily... but with these copies costing $10/pop, i'd rather get some 'expert' opinion
my leading theory right now is that the 1 is actually a "0" so to speak, in that there is no notch when its cut to a "1", and that everything else basically just follows up numerically.
Sage advice to follow, i'm sure...