The cutter is an all around good balanced weapon. Good for cutting limbs, good range, there will be lots of ammo for it, can do enough damage on most enemies. There is even an achievement by beating the game only using it.
For my impossible difficulty run I didn't used it much, decided to use the nodes on 3 more specialized guns: pulse rifle is great for the bosses, line gun's fire modes become overpowered as f**k so its great against almost everything, and the ripper because its fun as hell.
Those 3 guns have been my thing on all the games.