Our second stop on a Palisades traverse attempt after Sill, which we aborted due to weather (thunder, hail, whiteout the next morning) after bivying at the U-notch.
We didn't try to figure out the gully downclimb before the knife edge. We made a short and quick rappel into it. The knife edge is spectacular! It really isn't difficult, but you have big air on both sides. I second the sentiment for a rope and and pro, but that's personal preference. Either way, you won't be disappointed! The second half is significantly easier and less exposed.
Three rappels (single 60m rope) took us to the U-notch, the first one right off the summit. Thunder and hail were rolling in as we were making our way down. I don't recommend the summit as a place to get caught in a storm... Watch for loose blocks on the way down.
The last bit of this route is as the book says, "breath takingly exposed". Easy climbing and an incredible ridge and view, but quite exposed.
The 100 foot gully between what appears to be the peak on approach from Sill and the actual peak was tricky to figure out. Neither my party or a party of 4 before us could figure out any reasonable way around it. We rappelled into the gully before climbing back up summit ridge on the other side. On the way out we clibed some Class 4-5 around the right side of the Gully (look back toward Sill) with some pro and a belay.