i believe a dog will still hunt but will they have as much drive and be as gamey. Lets say if you have a gritty cur dog and you want him to stay gritty, would you still cut him. Testosterone is just so much fuel for the fire. I would think you would have to exercise them more than not to keep them in shape. I would think it would be like comparing two athletes, one on steroids and one not.
I've got a real gritty female, and I can assure you she does not pack a high level of testosterone.
I've cut dogs before, they did not loose their hunting abilities or will power. If the dog has hunt in it, you would be hard pressed to make them loose it. JMO