K knife cut

One of my favorite tools, has changed again.
It used to by default cut a mesh in half, or create multiple cuts by rolling the mousewheel. Now it seems my only option is to draw a line to cut with my mouse.
Is there a new tool for the old behavior or can I just not figure it out?

K hotkey has been dedicated to the knife exclusively. What you’re looking for is loop cut (Ctrl+R, the same hotkey it had in 2.49).

You can find more about the new knife tool here :

Unfortunately while quite usefull, it has still some annoying problems in which it can miss a cut (especially when trying to cut through), some limitations and lacks (no way to constrain to an angle or an axis, you can only constrain to view and only on a few angles) that i hope will be solved one day

Thanks guys. Stan is right it was Ctrl-R that I wanted not the knife.
Sanctuary thanks again, the link was very helpful. It does seem the knife has improved some!

It’s just that in 2.49 K brought up a popup menu where you could select either Loopcut or knife cuts, whereas in 2.5+ these functions are just separated to their respective hotkeys.