Have you tried adjusting the laces? When the lacing on my Imperial is loose, the cut-out pinches shut under my weight and is painful. When the laces are tight enough I don't feel the cut-out at all.

I had to adjust the laces several times as the saddle broke in, starting around the 500 mile mark. I've had it for almost a year now (so maybe 5000 miles?) and haven't touched the laces in a while. They're pretty tight, enough so that the bottom flaps curve in a bit under the tension. The nose is tilted up pretty high, otherwise, I slide forward and put too much weight on my hands.

I don't think that you're supposed to use a ton of Proofide. Think of it as waterproofing, rather than as a softening agent. That little tin is supposed to last several years. Use too much, and you'll have black dye from the saddle coming off on your pants

These saddles are notorious for not having a lot of setback.