bagging is for sure needed when building up a new part in a mold and building several layers at once, but if you are reinforcing and only doing a small section at a time with only a couple layers of glass or carbon, peel-ply seems like it would give very similar results as bagging. It gets rid of air pockets, removes excess resin and gives an even surface in the end...just like bagging except you don't get the pressure that bagging gives. Bagging is definently the better option, but that is not a viable option for everyone. For reinforcing and doing a top layer of carbon to make it look pretty, $35-$40/yrd is worth it imo and does not require bagging and can be done with very good results. I don't have a $10k hull that weighs 25 pounds tho. Who is paying $75/yrd for carbon???
To the OP, a little superglue will keep the weave together during and after cutting cloth, I haven't tried this. Another option, I layed a strip of scotch tape where i cut my carbon (make sure you do the tape a little outside the edge you are cutting and use cut the tape hot dog style so it isn't as wide). The tape will keep the weave together. After you epxoy the carbon down and let it cure (epoxy wont stick or adhere where there is tape) then just either cut the taped edge out and sand or your can sand the tape edge out. I did this and got really nice results in corners and edges.