I use less intensity because of the recovery factor. That needs to be an option. I dont do either of the two choices so I didn't vote. Why would you take time off?
I cut back on the number of sets,I just concentrate on maintaining.If you work just as hard off a cycle as you did when you were on,you will probably lose muscle.
This is not a black/white issue. Total volume must be decreased and a week off may be beneficial but core exercises should be trained hard and heavy (not excessive weight though) to help keep gains.