We analyze the nature of modal cutoff in microstructured optical fibers of finite cross section. In doing so, we reconcile the striking endlessly single-mode behavior with the fact that in such fibers all propagation constants are complex. We show that the second mode undergoes a strong change of behavior that is reflected in the losses, effective area, and multipolar structure. We establish the parameter subspace in which the fibers are single mode and an accurate value for the limit of the endlessly single-mode regime.