I think I cut 1 1/2 to 1 1/4 total, can't get to sewing room to measure. I've made quilts, mug rugs & tote bags with them and like a approx 1/4 of the fabric to show, but I don't have an exact rule, sometimes it is only a sliver of fabric, depends on the fabric & my mood, LOL. I have so much fun with the selvages and lately manufacturers have been even more creative with them. Like someone else mentioned I no longer like the fuzzy ones or extra wide, when I first started I used everything but now more snobby, LOL. It is one of those addictive things, one you start you get fascinated and see all the possibilities.
But at least I have haven't gotten to the point of buying fabric just for the selvage, I still use the fabric in other projects first! I consider that proof of sanity, LOL