When I started flying my Cirrus, the prop was exercised by moving the power lever until you could feel the resistance of the cam mechanism engaging (the "detent"), then moving it just a little into the prop operating range. You can feel it in the lever and hear the prop pitch change.
But it involves pretty high power, and a lot of pilots on COPA started forgoing it and just checking for proper rpm on the takeoff roll.
I believe at some point the POH was revised to fall in line with what pilots were doing anyway.
As an aside, I originally thought the lack of a blue knob was a detriment. I found over time the Cirrus solution was quite elegant, and gives a pilot a large enough range of power setting options with one less thing in the cockpit to fiddle with.