You do you, but what's that supposed to be? For an AFK build, it relies too much on ammo. For anything else in PvE combat, you don't need those shields. And if when those shields come down, you're dead. Even some small engineered MRPs/HRPs would help, as well as heavy duty'ing those lightweight bulkheads.
Maybe I never understood the niche of the Cutter - but as a combat build, I'd prefer the Corvette. As a (heavily armed) trader, you have too much stuff and too little cargo space.
As to your weapons choice: size 3 MCs have an awfully long spin-up time (the theorycrafted DPS don't take that into account). And it may just be me (never bothered to get the hang of FA off turns), but with the maneuverability of the Cutter, the low effective range of the laser is going to bite you. If you feel you need mixed weapons, putting the beams on the size 3 and a MC in the size 4 might be a better option.
For me personally, I don't like oc'ed PPs, with the possible exception of pure combat builds. I would put armoured/OC on the PP, then juggle around shield, reinforcements and boosters (together with power priorities) until everything fits. Oh, and talking about shields: NPCs rarely use plasma, but often use lasers - and only bring out the missiles once your shields are down (see above - you're dead in that case anyways). So balancing your shield resistances towards thermal/kinetics might be more sensible than simply piling on raw strenght and across-the-board resistances.
