It's a classic wet, still used in the Maritimes. When I was a kid you'd find them in every hardware store in Maine, and i'm sure a lot of old timers still use them
It's a beautiful pattern, and though not many folks fish winged wets theese days. I bet it would be a great searching pattern, swung down and across , and a very good imitation of emerging and diving caddis. And it works real well on wild brook strout back east, so it would probably be a good bet for your cuts too. And fun to fish with such a tradition behind it.
Still Water Runs Deep: The Dark Montreal - A Fly For The Ages