bd - one thing none of us can answer, how do you want your class distro to be?
with two cuts, you create a 5-2-3-2 structure, which allows you to recruit a few average players each season, with one big class every 4.
with no cuts, you create a 5-2-5-0 structure, which allows you to go for two homeruns every four years, and largely sit out 2 out of each 4. But, with no cuts, you might have 2 pretty bad seasons in a row until your big recruiting class next season grows up.
Some of this is dependent on how much confidence you have in getting two mid level 500 players with almost no money who can help you already next season and start as juniors?
I would cut, as I like balanced classes, but that is just me.