I really like the original concept, and it looks like it would make much better use of cargo space with the squared-off midsection. The only thing I would change would be to make the cockpit twice as wide as it is now that so that you could walk to the seats, and pull the unnecessarily wide engine mounts in closer to the hull (which they're actually doing in the rework)...and get rid of those secondary vectoring engines underneath the mains....it's pointless...just vector the mains.
Right now CIG lists two of the roles being police / militia oriented, and we already know that players will not be allowed to "police." We will have bounty hunting, and I could see a better use with that.
Load the Cutlass up with Neutron cannons - disable and board. Same concept makes it very appealing to pirates (which according to lore, Drake caters to with these ships off the record).
I think what's really missing is an "explorer" variant. This ship is small enough to go through every jump point - has room to haul cargo (unlike the 315p), so those two things would give it an advantage over both the 315p and the Freelancer DUR, which as of now can only go through medium+ jump points. I would definitely buy that ship.
I would rather see an EW stealth variant and explorer variant....and I think both of those would be more useful. Paint it up black like a Hornet Ghost and give it some EW weaponry - - that would be a pirate dream boat.