Your a brave man Mr_S
Some thoughts to above, anything that reduce the use of error correction in a CD PLAYER, is a good thing, one of the reason why better/expensive players sound better is they turn down the error correction, and hence some times are worse at reading poor discs... you pay more for poor reading !! LOL
I have had a disc "cut" for me to try, the balance issue I don't really buy, it only puts a bevel, and doesn't remove enough IMO to re balance a disc.
Nor does it re-centre the disc, as it does not change the relative postion of the centre hole to the foil, the outer edge concentricty is meaningless.
The manufacture claims it used to deflect internal light away helping the read performance of the laser. (the angle is said to be critical)
I too worry about the open edge and CD life.
Well to be open, I tried my one CDR cut disc against a identical uncut disc in my £6800 Linn 1.1 Unidisk..... and it made such a small difference I could not be sure it was there.... similar result on my old Linn Karik......
For sure it it may be player and disc dependent, so one player and one disc is not proof of anything............... but I'll be keeping my discs as original spec !!!