Balisong will cut as well as any other folder of similar size, blade shape and grind geometry. Just don't expect to chop down trees or pry open sewer covers with it!
But it is NOT a good choice for EDC even if it's legal in your locale.
It's better to just keep it at home in your collection and only play with it sitting on your couch watching TV!
Here is 2 scenario's that will most likely happen if you carry it as EDC.
1st: Eager beaver ignoramus LEO finds balisong on you and arrests you for having "Gravity" knife which are still illegal in most locales, now you have been arrested need to spend thousands of $$$ on lawyer to have your case dismissed, which most judges will do because they know your knife is perfectly legal. Now you're out of money and time wasted, because of fool in uniform!
2nd: Dirty corrupt LEO decides he wants your shiny $300 balisong so he will give you a choice get arrested for illegal "Gravity" knife or he can let you go with a warning but he will "Confiscate" your knife.
If you try to argue with him he will most likely arrest you for disobedience, resisting arrest or some other BS charge!
Russian saying "If there is a way we will find reason, if there is a reason we will find the way!" applies to many situations and all cops around the world!
End result you are in jail and need lawyer!
BTW true story happened about 20yrs ago to friend of mine, he was more than happy to let cop keep his cheap $20 balisong rather than go to jail!
Will you be as happy to let cop keep your $300 knife?
PS personally I would NOT carry any knife worth more than $150, that I would risk my life or freedom over to keep it!
If I break, lose, throw away (get rid off incriminating evidence), or it gets confiscated I wouldn't be happy about it but wouldn't lose any sleep over it either!
No evidence no case!
That's how 99% of people get caught they keep expensive ex: gun, knife watch, ring, etc. instead of getting rid off, that contains DNA/blood and lose their freedom instead!
In ancient times we had only 2 choices for rapid deploying SD knives switchblades and balisongs, it was worth legal hassle and risk to carry it as EDC.
Now days we have better choices ex: flippers, dual thumb studs, holes, waves etc, you get same rapid fire deployment without legal PIA!
BTW same problem exists with assisted opening knives, big PIA from law in most places without actual benefit of faster opening.
According to DA dude had legal size blade, but because it was assisted opening cops arrested him and murdered him in police custody!
Here is what I would like to know, how did cops who arrested him know he was carrying illegal assisted opening knife in his pocket, he never opened it in front of them! Can any of you tell what type of opening knife just by looking at clip sticking out of someone's pocket? Apparently cops can! They must be psychic! Cops said they arrested man for having illegal knife, but they wouldn't know it was illegal until they arrested him! Catch 22!
Some modern excellent manual opening knives are faster than full switchblades!
I don't like switchblade's and assisted openers because their are unstable in hand when opening. If spring is week it will not lock open or if spring too strong it will kick knife right out of your hand! You will have better solid grip on handle with manual opener.
Sorry if I went on a little rant, in conclusion its always better to carry legal EDC that will not cause you problems later even if you are justified in using it.
Remember dude who defended himself on subway from punks but went to jail for having illegal gun?