That is possible Sir to a not so very complex design as seen with vinyl stickers, need to tweak the blade though.
Somehow, precise images with thin lines and/or with curves and images with halftones will not be cut accordingly.
Here are some threads for your info:
http://www.t-shirtforums.com/vinyl-cutters-plotters-transfers/t52539.html
http://www.t-shirtforums.com/vinyl-cutters-plotters-transfers/t111125.html