If you're looking for a finish lawn look...you'll probably not get it with a cutter.
As Alan wrote, these blades aren't sharpened like a finish mower. They actually have a 1/16th inch (give or take) bevel rather then a sharp edge. The blades are also considerably thicker then a mower blade (3/8th's to 1/2").
The cutters pulverize as much as cut.
Also, with just a tail wheel and no anti-scaping roller, it's a reasonably good chance you'll tear your lawn up if there are any humps, rises or depressions.
My cutter, a 60" Land Pride unit, will cut as low as 3".
A finish mower will cut fairly tall (8-10") if you take your time and you set it high. Your lawn would look like crap with those grass clipping, but it could be done.
If you do end up with a cutter, and mower close to your house, I suggest you spring for the chain guards.