Excellent spinner cut (3,5)
I believe the answer is:
top-notch
'excellent' is the definition.
(I've seen this before)
'spinner cut' is the subsidiary indication.
'spinner' becomes 'top' (something that spins).
'cut' becomes 'notch' (notch is a kind of cut).
'top'+'notch'='topnotch'
(Other definitions for top-notch that I've seen before include "First-rate" , "Excellent (informal)" , "Of the highest quality" , "Wonderful" , "Grade 1" .)