I played the beta- messed about with both ships, but have strong points and weaknesses.
I bought the Cutter first, because i was working out of Fehu on long range smuggling, masses of cash and rep(nerfed now), i enjoyed the cutter for 5 mins, then parked it.
Cutter, it took a few extra days to make min rank, i bought it, loved it and now i have 2...
To answer the OP question- it is pretty simple, do you prefer combat or trade?
Combat
Cutter is a pure tank, huge shields, and lots of guns... but it lacks the finesse of a pure fighter, turrets are very handy, but not essential, turing circle of a small moon...
Vette- it is a beast in combat, great shields, tough armour and handles great, only down side is the low jump range, turning circle is fast, like a speedy FDL.
Trade
Cutter wins, monster 728 shielded trader, nothing comes close(yet)
Vette 2nd best cargo in the game(584 shielded) better jump range than a T9, lower jump range than a cutter
Basically- what do you want to do with either, and make a choice, go get rep, have fun then go do the other.. only you can make the choice- it all depends on your rank & rep.
Fly safe and have fun.