Bit of a cross thread response to your query on the Fanatic Falcon Sue, but having ridden iSonics for about 5 years I got myself a 2013 89 Falcon about two years ago and found that without the cut-outs the board was incredibly flighty going for it in the ocean, so much so that whilst an extremely fast board it took every skerrick of effort to keep it altogether on the water compared to a similar sized iSonic. I sold it after trying numerous different fins and set-ups as it just wanted to buck me off going broad (maybe user error too). Ended up replacing it with a 2014 iS90 and haven't looked back. Whilst the latest model smaller iSonics don't technically have cut-outs anymore their radical pin tail is effectively doing the same that a cut out previously did but only better IMO.
So all in all I really believe the tail cut-outs are a big plus to a boards ability to trim itself and thereby making the board more controllable. Also less wetted surface area reduces drag although compared to the drag a fin generates it's probably quite negligible whether there's cut-outs or not.
Here's the 2014 iS90 tail next to a 2012 iS97 FYI