There are only a few things to consider here.
In regards to playing offense or defense, the pocket size should be the determinant. Buckets, you have to go for it. Triple shimmed tables, you have to play safe. Anything in between is a judgement call. If you're on buckets and don't go for it, please be ready to be called the Tin Man because you have no heart. If you're playing on tight equipment and you don't play safe, please be prepared to be called the Scarecrow because you have no brain.
In regards to cutting or banking, you need to bank this. There is a natural safety that can result from a miss and there is minimal risk of scratching. Admittedly, I've cut this ball in before but I'll only do it if I'm feeling GREAT about my cutting that day.