ORIGINAL: PABowhntr
From experience, most of the drop away rests of this nature function best with the knot about 3 inches below the level of the rest itself. This allows for the cord to get pulled and released without having the excess length snap up and interfere with the flight of the arrow.
I dont have the Shakey hunter, but a quick tune on one of my bows. I have mine tied about three inches above my rest. There is a difference between the two rests, the shakey hunter uses a string and the quick tune uses a cable. The quick tune is ment to be slide activated, but I found it works better served into my up cable at about 3 to4inches above the rest. Dont know if this helps, but just more food for thought.