I've seen some contributors say they're perfectionists with technical quality and that they remove every dust spot, blemish, and imperfection.

So do you still take the same pride and time in processing technical quality as before all the recent commission cuts or have you cut back?

It has decreased my motivation to spring for new expensive gear.

I still go the extra mile.  

I don't see the standard of my work as something I 'do' for microstock agencies.  I see it as the result of a lot of hard work and study to create a portfolio that I can take elsewhere if the tide changes.

I aim to make every image better than the last image, and would throw in the towel if I lost my desire to improve my work.  Once I'd mastered the requirements and acceptance critieria, it was no longer about the agencies for me, it was (and is) about knowing that I'd done the very best with every shot.

Who knows what the future holds, or where our ports might go?  I think it would be daft to drop our standards as some sort of response to the agencies we currently submit to.  IMO, working  at a lower standard would be a waste of my energies, incredibly unsatisfying, and something I may come to regret further down the road.

No of course not, but it's changed what I shoot and sell via microstock.

I do. I just can't do it any other way - my images have to perfect. Sometimes I ask myself is it insane to remove every tiny imperfection when images are selling for so little money, but I still do it. My every try to outsource image editing failed for the same reason - noone was good enough.
I could cut on quality and produce double amount of images a year, but it's important for me too feel good about what I am doing.

Thats it!  same here, I wouldnt feel good about it if I didnt do my job properly. I think as any creative, artist, etc, its about ones own self, got nothing to do with money or anything.

And more rejections is a better return on effort?

You also have to consider your reputation. If your work is good, customers may take note of your portfolio. If it is slack, they may start to avoid you. Maybe. I don't know.

I'm more of a "good enough" guy, and that's because I'm a perfectionist. If I would want my (microstock) images to be perfect, I would never get anything ready.

I have found the best thing is to try to shoot as good quality as possible, to minimize the amount of post-processing. Extra five minutes spent when shooting can save 30 minutes of Photoshop tweaking and retouching.

I still brush my teeth, shower, comb my hair and use deodorant when no one is checking up.

I have standards, will not change them just because the price changes.

I've completely stopped producing for microstock for a while, partly because of commission cuts and partly because I'm finding better opportunities for future growth in other businesses.