I am trying to cut circles and squares out of an existing polygon. I could do this easily in 9.3 but the tools have changed and now I'm not sure how to do it.
You can allways create a temporary feature to cut with and then use the cut polygons tool and replace sketch to load that feature's geometry into the cutting line (you can then delete the unneded feature). If you are opposed to creating a temporary feature we have shared a tool to cut with a circle at the following address...
We don't have such a tool for rectangles currently, but constructing the cut rectangle with the right angle constructor and square & finish works okay.