Okay, i'm looking to buy a Takamine G340SC for about $300 soon, but i'm not sure if the cutaway will affect the sound at all. i just figured that it'd be a nice little bonus to have the cutaway there, but i dont want to lose quality in tone and stuff.. any advice?
Well it does a bit. By having a cut away, there is less area that resonates. But if it doesn't bother you than its not that big of a deal.

I don't personally like cutaways just because I don't really have much use for them on acoustic. That and they increase the cost of the guitar.
It's Only Rock and Roll, But I like It
No they don't affect the sound. The fingerboard alone stops most movement in the upper bout of the guitar add the bracing to support the fingerboard and there is almost no movement in the upper bout of the guitar. The sound comes from below the upper bout and so tone and volume are not affected by a cutaway.
If I wanted to be very picky. Yes, a cutaway takes away some tone. But, you'll never be able to distinguish it. So practically speaking, no, there is no tone loss. There may be a slight volume loss though. The volume of air which the guitar can vibrate will affect loudness of the guitar, but there are many other factors which contribute to this as well so it wouldn't be noticeable.
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