The biggest benefit of using a Heineken can that I see is the cool factor, because it looks nice. For performance I have not seen a benefit to the flared-out ribs on the Heineken can. I also like it because it comes full of beer and does not have paint around the bottom.
The best way I have found to cut the can is to score it with a utility knife blade. I also tried an Exacto - hobby blade but it was more difficult to get a nice deep score. It is easier to hold the blade and rotate the can. I read on a web site (sorry, no link) about holding the blade inside a book with both the book and the can on a table. I used a block of wood.
Once you have a good score around the can it will tear very cleanly all the way around. It makes a very smooth (but still sharp) edge. You can also cut thru the can with the razor but I could not get as smooth a cut that way.