Cutouts are a great idea if you don't want to spend all the extra $$$ on a full cat-back system or other exhaust components. When open, the HP gain would be virtually the same as a good cat-back. You may lose some torque though.
I would look into a Quick Time or other electronic cutout as it'll save you from having to crawl under the car each time you want to uncap it. You can set it up to open at the flick of a switch or open at a certain percentage of throttle.
However, they (the auto opening versions) can run into reliability problems because of the temps of the components actuating mechanism. But compared to a good-cat back, you can probably get away replacing 4 or 5 cutouts for the price of one cat-back system.
I would look into a Quick Time or other electronic cutout as it'll save you from having to crawl under the car each time you want to uncap it. You can set it up to open at the flick of a switch or open at a certain percentage of throttle.
However, they (the auto opening versions) can run into reliability problems because of the temps of the components actuating mechanism. But compared to a good-cat back, you can probably get away replacing 4 or 5 cutouts for the price of one cat-back system.