Technically yes, but I look at it this way.
I may get less rep per kill, but I can get more kills into the same amount of time, so it all balances out. And since I can kill faster, I take less damage per kill, and don't have to use so many potions. So go ahead and put a couple more points in to Flourish. Skip Cleave - it takes to long to hit. I put 5 into Flourish, which may have been hasty, but I can drop stuff real fast. Officers in Kingshead give me 40-50 each.
I find that I can't quite get the timing right on Gouge and wish I hadn't put that point in it. It seems the be the dagger equivalent of Cleave. Skip that too. Haven't reached Eviscerate with dagger yet, so I don't know how well it works. If it's like Flourish, I may go for it too.
Good thread on Cutlass:
http://www.piratesonlineforums.com/f...ead.php?t=3297