As you maybe already know, the cutaway is for reaching the higher frets if you play that style of music. There's a difference between otherwise equivalent guitars if one has a cutaway and one doesn't. The cutaway takes away from the sound chamber, so there has to be a difference in volume, tone, etc.

The important thing to remember is, if you're buying a guitar and it has a cutaway, you'll probably be paying extra for it because there's more labor involved making the cutaway. If you don't really need the cutaway, your extra money might be better spent getting a regular shaped guitar of better quality.
Quote by Dayn
Thank you, mysterious stranger!

My life would have sucked today had I not read this very thread.