Interesting. I recently bought a tandy splitter. I just used it a few time playing around with it. I was looking at the cowboy, but the tandy one was on sale so I got that.
I must say though, the design looks identical to me. but for plastic knobs and a different paint job, I think they're the same...
Anyway, the tandy splitter worked fine out of the box. I split some 8oz and 5 oz veg down to 3oz and then I split that even further. I then grabbed a 3 inch wide piece of 2-3oz chrome tanned calf and split that in half or better. I was impressed.
Sorry to hear about the cowboy. Maybe I dodged the bullet.