When dieting down in an attempt to maximize fat-loss, yes--test will prevent some of the catabolic effects of large caloric restriction. Only to a point, though.
I'd start out with 10-12kcal per pound of bodyweight/day (or whatever you've found has worked for you in the past) and stick there for a couple of weeks. Doing cardio will be good because the catabolic effects will be offset by 750mg/wk of test enanthate. I'd suggest HIIT 2-3x a week and 1-2 60 minute low-intensity sessions in addition to weight training.
If you aren't getting the results you want (i.e not losing bodyfat quickly enough) then drop 300-500kcal from your daily intake and keep everything else the same. See what your fat loss is like after a week or two, and adjust up or down from there. You'll eventually find the point at which you can restrict calories to the extent that maximized fat-loss while holding onto your LBM. It is an individual thing, so you must find out through experimentation.
