I'm actually going to come out in favour of the cutter line, specifically the DVS line. It's not a remarkably powerful sword, but it is fun.

That said, there's some important techniques and gear choices you must use to keep yourself from getting minced. First off, it's rarely advisable to go full combo given the lack of interrupt. Having the correct shield for the monster's damage type is vital, as the cutter line works very well if you dive in, slash away like crazy, then shield at the last second to tank the hit and bump the monster away to a safe distance so you can dive in and do it again.

For heavy hitting monsters like lumbers, it's well advised to attack from behind, or bait them into attacking first and dodge before going at them. Status-themed lumbers can often one-shot even a well matched elemental shield, depending on the depth.

Keep in mind while using this sword that you're going to inevitably take more hits and do less damage than you would with other swords. If you can make peace with that fact, then go forth and craft!

The charge attack can be quite good, when used correctly. I like to use it against gun puppies (specifically red rovers), lumbers, and Vana's mask phases.
The key to using the charge attack well is to use it against largely stationary enemies with longer gaps between attacks. Basically, make the enemy attack, then sidestep and unleash the charge attack. If you do it right, all of the attacks will land and the attack will be over by the time the enemy is ready to attack again.

Another use is for gremlin demos. I can usually attack a demo and keep moving out of the blast radius of dropped bombs, but here it's important that you have somewhere to go; drive the demo and yourself into a corner, and you'll suddenly find yourself surrounded by bombs.

And having 2 hits per click, the cutter does simply demolish obstacles. Great for collecting goodies while evadin Grimlakin in Candlestick Keep.

The cutter line can be used almost anywhere, is fairly fun to use, but won't give you optimal damage much of the time.

About cutter:
The mask may move or burn prematurely, leaving your charge hitting the air while you're defenseless.
Plus you cant cancel it if say, your allies die and need reviving, etc.

Use it if you're confident enough.

Personally, I love the cutter. It was my second choice sword after the troika. But it isn't good....except for teasure boxes, stone blocks, and minerals.
Long combo
Relatively low-decent DMG
Looks SICK (WHB)
Combos DO interrupt enemies such as gunpuppies.
HORRIBLE in PvP
Bad in T3 PvE

Basically, it is a bad end game sword and bad general-purpose sword. It is more of a utility weapon.

And it is not HORRIBLE in pvp. It works fine. Each hit stagger/interrupts the opponent a slight bit, and the poison annoys the heck out of everyone.

The cutter line is ok, vile striker was my first 4star sword but after I discovered how much more damage I could do by specializing my damage based on my opponent I let it sit for about a couple of months.

I recently tried it out again recently after watching Exiledread's excellent solo UFSC vid (http://www.youtube.com/watch?v=fzBG1gYBK_s) and seeing how useful the DVS could be if used properly.

It has since replaced my dark thorn blade as my fsc sword (Storm driver, Vile striker, shiver) since I became too poor for 4 slots (impulse accessory buys kill me every time) because I like it better for trojans and it's more useful against the gun pups, oilers and vana mask. I also really like it against kats.

That said, there are plenty of times where I prefer my silent nightblade, dtb, or avenger because they all have better charge attacks, deal more damage per hit, have better range and better knockback.

Compared to other swords (NOT winmillion), it is pretty bad in PvP. It does minimal damage, but it does interrupt attacks. Once the combo is finished though, you're dead. But I was mistaken, it's damage is fine for the full combo. Just takes more skill to use I would say. Needs a range buff.
On a random note, the flourishes second and third swings have the same range as the troika's second swing. (tested at RJP area before boss with reappearing blocks: First hit of both weapons knocked out the first block, and the second hits knocked out the third. Wth?)

The DVS primary attack only has around 2.5% chance to poison/hit. The charge has about 5%. That still means that at 2.5% it takes around 40 successful hits to have a chance at poison - actually it's the other way around, 40 average hits implies about 2.5%.

For DVS - A full 10 hit combo has a 22% chance of poison. A full 10 hit charge has a 40% chance of poison.

In comparison successfully hitting with every FoV charge has a ~87% chance of fire, and a hitting with every combuster blast is ~92%. (In non-FSC levels)

If the DVS had a 20% chance of poison/hit with it's charge attack and a 10% chance of poison/hit primary, I would say that it's comparable to it's other sword brethren. But until then, I'm leaving it on the shelf.

Also I get this weird glitch sometimes where the damage from my charge attack does the same amount as the primary swings. Both of which have roughly the same poison chance as finding a four-leaf clover. :-\

I still only have a hunting blade, but here are some things I learned:

1. When using a Cutter, try getting at least some ASI on it. It will dodging and blocking (which is everything good about this sword) much easier.
2. TURN OFF AUTOAIM
3. I would suggest for you to get a Swiftstrike Buckler. You won't regret it.
4. Learn when to stop in your combo. Usually, two swings (with ghost strikes) (with Swiftstike Buckler) will leave you enough time to dodge or shield from any single enemy's attack.
5. Use your shield often to shield bump enemies away. You want to be attacking enemies one at a time.
6. Wolvers and Devillites aim and then wait a bit before they attack. In otherwords, if you're in a combo when they aim and attack, they will attack behind you.
7. Many enemies will be interrupted, especially Devillites and regular Wolvers. But because of the knockback, the interruption is a bit unpredictable.
8. Alpha Wolvers are not easily interrupted and can easily break your shield. Don't attack them headon.
9. You can continuously attack lumbers, dancing around them so that they never manage to face you.

Asi is always okay to get, provided it applies to the weapons you use and does not put you over the maximum bonus allowed.

Turn autoaim off to be able to aim between enemies in order to hit the most possible. Actually, turn autoaim off, unless you really need it for the toothpicks.

I have an asi med on my Vile Striker and love it. I would never use it in pvp, though...

ADI. Just use the charge attack on it right after it shoots then tank a bullet and then finish it off. Though depending on how lucky you are with poison, how big your party is, and how much ADI you have you could 1 hit KO it.

Full skolver + swift strike gives you vh damage and high asi. Skolver with buckler gives ultra damage.

For comparison, the first option gives 6 points worth of bonus. 2nd one gives 5 points. I would prefer skolver and swift strike, having a decent bonus in both asi and damage is better than adding a point to an already vh damage. However, I don't use cutter lines, so I can't say how much asi adds for you.

Unless your aim is to demolish the biggest concrete block in Cradle, the real pay-off to ASI is safety: whether you can get off [X] attacks and still shield in time to avoid an attack. That difference will necessarily be tiny when measured in seconds or DPS, but that doesn't mean it's not significant. . . .