1. This paper may not [caesura] be entirely right
2. This paper may be [caesura] not entirely right
Do you (a) perceive them both as equally grammatical, (b) if yes, feel any difference in meaning, even very slight?
In particular, do you feel that (1) is a tiny step toward "This paper cannot be entirely right", which does have a distinctly different connotation?
As always, please indicate what version of English do you use.