Ive my eye on the Cort SFX series (the SFX-1 lowest in the range) its the slimmer boddied guitar. As an electric player it feels more 'correct' than a full bodied electro acoustic due to the nature of its shape but is there any real disadvantage to such a guitar over a normal cutaway body?

It depends...if you're playing live, you'll have a lot less feedback issues with a thin body acoustic. I'm not sure how much the guitar you are talkign about is, but for the thin body acoustics, my favorite guitar is the Washburn EA20SDL. It sounds good unplugged, and amazing when plugged in. It has a top notch pick-up. It runs just over $500 I believe.

Partscaster/Tele into a bunch of pedals, a Maz 18 head, and a Z Best cab.
Yerp the cort uses fishamn classic 4 EQ system which from what ive been told is fantastic. In £ its £249 so what, about $400 maybe? I suppose less feedback is always good but my only real concern is that its not natural as such for electro acoustics to be like that? or is that just stupid. Ill look at the washburns though, so perhaps slimmer body is the way its meant to be for me then!
Its closer to $500. Whatever you do, make sure the guitar has a solid top. The washburn I mentioned does, I don't think the EA18 does...anywho, Washburn uses a B-Band pickup that is dual source...its really, really nice. If you can find one to play and plug in, you'll hear the difference.

Partscaster/Tele into a bunch of pedals, a Maz 18 head, and a Z Best cab.
it is solid top!

"TOP Solid Sitka Spruce
BACK Mahogany Arch
SIDES Mahogany
NECK Mahogany
TRUSS ROD Adjustable

which seems good for the price. Looking at the EA18 i can get it for between £200 and £230 so similar pricing to the Cort, i think i should try one out first though!
Don't know if you are interested but Yamaha makes a thin body acoustic/electric and it runs around the 500 range I believe. They sound great, I've played on before. Never played it plugged in though.