Disclaimer: I've not restored a cabinet.
Having said that I've plenty of shoplogs where people do and don't cut the decals around the legs (the worry being that they'll cause the decal to pucker). As @Wiredworm said, don't rush to refit the legs so that the adhesive has plenty of time to harden. The other option is to get some of those Stern-style leg brackets that keep the leg just slightly proud of the cabinet surface.
It was the leg protectors I was on about [emoji6]