The Silhouette will cut gumpaste and icing sheets. Google Linda McClure, she has a website, a blog, and some utube videos that shows you how. You will have to have the housing and blade that Linda sells to cut gumpaste. I have a Silhouette SD, which has now been replaced by the Cameo. The Cameo runs anywhere from $216 to $299 depending on where you buy it.
The software that comes with the cutter is Silhouette Studio, which is free, or for $50, you can upgrade to Designer Edition. It is very good and you do not need any other software, or cartridges either . The Sil has a print and cut feature where you can bring an image into the software, trace, crop, manipulate it however you want. Put a cut line around print it, and the the machine will cut it out for you. Love mine. As long as you do not cut glitter paper and the like, you can use it for both paper and gumpaste/icing sheets. HTH