Bought in early 2000 from "Alan's Discount Music" (Birmingham, AL; a gbase.com dealer) for only $299, not bad for a (supposedly) "new" guitar. Arrived with the plastic still on the 'guard (actually, the plastic had been left on there too long, leaving residual gummy marks that had to be dissolved with rubbing alcohol and wiped off) and all the tags. They were kind enough to put it on lay-a-way for me for a month while I sold some old comic books to raise the difference (another exercise in futility). However, despite paying for a case at the same time I bought the guitar, it was shipped without one. It was like pulling teeth from these jackasses to get the refund for the unshipped case, not to mention the truss rod adjustment wrench and the whammy bar. I never got a receipt, so I'm SOL if I ever need warranty work. Do yourself a favor and don't ever shop from Alan's, even if it seems like a really good price.
The good:
I first read about the then-new Fender Cyclone in October 1998, a few days after I bought my '65 Musicmaster II project, and I remember kicking myself for not waiting. A Cyclone doesn't have quite the same vibe as a hot-rodded Duo-Sonic or Musicmaster, but there's not near as much sweat equity/frustration either. The Fender Cyclone is like a late '50s or early '60s Duo-Sonic on steroids, but with the Gibson scale length. The neck pickup (TexMex single coil) is decent, and the output from the "atomic" bridge 'bucker lives up to its name. I was rather pleased with the well shielded electronics, so I'm hard-pressed to hear any 60-cycle hum, even in the neck position. For that reason (and because there's a resistor wired with the switch, perhaps to reduce the "capacitance effect" of the shielding?), I probably won't ever succumb to temptation and drop one of the Seth Lover-designed Fender Tele Deluxe humbuckers in there. (It'd be too big for the existing routs anyway.) The pickup selector switch toggles from front-to-back (logically, duh) rather than the Gibson up-to-down, but it took some getting used to.
The bad:
It's kinda heavy, but I guess you gotta have a thicker body to make room for the standard Strat-type vibrato system. Unfortunately, the guitar also illustrates the things wrong with most recent-issue Fenders: paper-thin ply "top" for the sunburst finish (and it's not even a cosmetically attractive ply, either! The wood underneath must be just butt-ugly). It also has the "swimming pool" pickup rout, even though there's only one available pickup configuration offered and the rout had to be modified for one of the pickguard screws. The inimitable Ed Roman has a lot more to say about this. It's too bad Fender didn't correct these corner-cutting practices until July 2000 (and then only on its new "American" series guitars). Finally, I've had a hell of a time adjusting the bridge saddles for proper intonation (see Mods, below).