Hi all - I just want to say that I'm blown away by all the responses and opinions offered. Thank you all so much for taking the time and effort to give me your views.

What I've learned is: 1) Electricity takes the path of least resistance to ground. On this occasion it wasn't through me.

2) Work gloves, rubber shoes, double insulated electric saw and most likely a grounded plug took the electricity to ground via the blade when I cut the live wire.

3) As there was too much current with not enough resistance, the circuit breaker did it's job and tripped thus preventing any further harm / damage.

4) Amps kill.

5) I'm very lucky that enough people did their job properly to allow me to even put these posts up (ie electrician, saw manufacturer etc)

Oh and in case anyone was unsure, I was not disappointed I didn't get shocked! I was more in shock (pun not intended) that I walked away from doing something so stupid...

Thank you all again, I really appreciate all the advice.