An improved cushioning conversion machine and related methodology characterized by one or more features including, inter alia, a feeding/connecting assembly which enables an operator to easily vary a characteristic, for example, the density, of the cushioning product; a manual reversing mechanism that is useful, for example, for clearing paper jams; a modular arrangement of a forming assembly and feeding/connecting assembly in separate units that may be positioned remotely from one another, as may be desired for more efficient utilization of floor space; and a volume expanding arrangement cooperative with the feeding/connecting assembly for adjusting the density of the cushioning product and changing product yield. The features of the invention may be individually or collectively used in cushioning conversion machines of various types.