Erm. I would personally be bothered if my husband told another woman she was cute or beautiful. A "you look lovely/nice" is sufficient. For a multitude of reasons, one being that the recipient of the compliment and the wife may both get the wrong idea....women have a tendency to read too much into compliments like that.
I personally wouldn't call another man handsome or cute. I know it would hurt my beloved, because compliments about the male physique are reserved for him. I wouldn't want to imply that I found someone more attractive than he was. Of course I notice good-looking men, but I prefer to keep my mouth shut unless I was absolutely positive it wouldn't hurt my husband.
Making him feel confident and attractive is more important to me than complimenting someone else. I'd rather not risk hurting him, it's not worth it.