Personally, in the past a cutout largely was a crunch for a pretty poor bike fit/set up. Since putting a ton of time into working on my fit myself and really paying attention to my body, the "need" for a cutout has disappeared. Funny, how now when switching between 2 saddles Toupe and Arione, I don't really notice the cutout except for a odd bit of a breeze I sometimes feel through it
Either way, I think the cut is more personal preference with fit coming first. Logically I think most people given a very good bike fit *not a numerical system+angles+cameras type crap cough BG Fit* should be able to ride cut or non-cut saddles fine but personally there may be just a bit more comfort with one or the other.
In other words, I think it could be looked at like 2 pairs of equal shoes except 1 has a suede liner and the other doesn't. Both fit well and function fine just the suede one's are slightly better, not make it or break it difference but slightly more enjoyable/comfortable
Ok end of rant
I agree that the saddle looks a lot like a Selle Italia SLR Lady Flow just rebranded as Fizik