I have been battling the same issue on my 03 VFT with the Shakey Hunter. Cock vane up, and contact on the launcher. From what I have gathered from the website, and Jeff B, the nock travel on these bows does force the nock down. This is more true if not shooting at or near max draw weight. The problem is not that the rest does not drop away fast enough, but rather it needs to stay up just a fraction longer to compensate for nock travel before dropping out of the way of the fletchings. I have my rest fully up for nearly two inches. I set the rest up level in the shop, but had to drop it nearly 1/4 inch to get a clean paper tune. No way now I would read level, but the paper is good. I have also noticed that my groups have improved. I have not used foot powder spray to check, but I am seeing no wear on the new molesking on the launcher. I think I am heading in the right direction. And besides, Jeff B won't let me give up on this rest yet. Good luck.
Bill