The Cyclops is my favourite extension, not least because of how fast you can rig a wave sail. I doubt it can be improved upon.
But design issues are always interesting when you look past the headlines.
Here is a photo of my older Severne 'Wave Grenade' extension alongside my newer Cyclops version. Any extension is used to extend the mast (obviously) so here I have ligned up the bases of both extensions. As you'd expect, the holes in the tubing line up, so both extend the mast by the same amount.
However there are two things that are less obvious. Firstly, if you use the current split ring collar - shown as stainless steel here - the design means the amount extended is less than when a more-traditional pin and collar system is used - also shown here.
Putting a pin and collar fitting on the cyclops gives you more extension than the supplied split ring version, simply because the older collar sits above the pin.
So you can get more downhaul for any marked setting when using the pin and collar. I measured this difference at about 15mm. A significant amount.
It gets even more complicated when you actually downhaul your sail, because maximum downhaul is when the sail's tack pulley and the extension pulleys come together. And that's a function of where the sheaves sit in the extension base. (And, for example, if you fit bigger diameter sheaves in the extension base then you get less downhaul for the same marked setting. )
All the above might sound unnecessarily nerdy but, in practical terms, if you buy a 2020 Severne S1 sail in the 5.2 size, the recommended downhaul setting is 424cms - with the Cyclops 24cms extension setting on maximum when used with a 4m mast.
And I find I need to replace the stainless collar with my older collar and pin one to get enough downhaul on this sail, with that extension .
I could of course use the longer (36cms) Cyclops extension, set at 26cms.