That material is damn near bullet proof; at least horse proof anyway. I cut mine a couple inches or so larger than the diameter of the round lift plate of the floor jack so it's not critical if it's off a little one way or the other. It conforms, spreads the load, has great bite, and like you said; won't split.
To 180: This pad is to protect our protectors.
It's also way safer w/ it's better bite.