A cushioning conversion machine and a method of converting multi-ply stock material are characterized by a conversion assembly which converts multi-ply stock material into a three-dimensional cushioning product and a dancer device (67) operative for helping maintain a greater uniformity of tension on the stock material being fed through the conversion assembly. A portion of the dancer device may form a splicing plate for providing a surface on which a succeeding roll of stock material may be spliced to a preceding nearly fully spent roll of stock material. The dancer device may be rotatably biased about a pivot axis that is coaxial with an axis passing through the center of gravity of the dancer device. The dancer device may include first and second substantially parallel and spaced apart dancer members transverse to the path of stock material and over which the stock material passes, wherein the members are pivotable about a pivot axis in response to changes in tension of the stock material.