Take a look in the select menu under paths, In here you will find two menu selctions called outline path and expand path, ( i think)
One of the selectiosn will convert a stroke thickness into two cuttable lines, you may have to delete the original centre line.
The other will outline any line by any distance you enter in MM. Works preety well, but if you start doing big outline on little characters then you will get some strange results.
BTW it is normal to outline characters by a set distance rather than the stroke the stroke the path option, as this selection inline and outline a character, which may give strange results on letters like W and V etc.
In the stroke path selction you can also select the round corner outline and other effects.
Hope that was clear and helps…