what are you basing this on? just curious.
My understanding is that cutting away with the bag still on our back isn't going to do much. It's stuck there for some reason so go for the reserve. There may be one or two things to try depending on the problem before going for the reserve. I do understand that releasing the reserve may clear whatever was wrong in the first place and the main may deploy along with the reserve, again depending on the problem. Then two canopys out procedures. A total mal is one in which the bag is off you and you don't have a controllable canopy. i.e. bag lock, crap overhead, something spinning you. This would deserve a cut. I am new, so if this is wrong don't hesitate to put me straight.
Regards