Actually, nolvadex will help limit water retention from dbol, I don't know why you are saying it won't.
Dbol can be used for cutting, any AS will help prevent catabolism. The main reason why it traditionally isn't used when cutting is the water retention that may result. However, that can be controlled during the cycle and will go away post cycle anyway.
Having said all that, if you are going to suppress your HPTA (which dbol certainly will), why not go ahead and get something out of it, by running some TEST.