I built one tonight. No engineering.
Class 5 stabilizer.
4X C3 Gimbaled Enhanced AX MC.
2X C2 Enhanced AX Rockets.
No shields. Hull is like 3200HP. AX fighter is installed, but not used yet.
I am able to kill Cyclops with little worry. Just a minute or less to exert a heart, and then less than a minute to destroy that heart. A very different experience than my other AX ships.
The difficulty (for me) is low speed. Boost is only like 220, so that means I no longer am in control of when the fight starts and stops. Sometimes I cannot move fast enough to complete a scan with the 2KM Enhanced Xeno scanner, even with repeated boost. And I cannot disengage under any circumstances. Even dumping heat sinks like toast out of a toaster oven, staying below 20% thermal. There doesn't seem to be enough vertical thruster authority to throw off the Interceptor's aim while I'm cold. And thus I seem to take a lot of damage, but still survivable against a Cyclops.
I spent lots of time in the yellow lighting bolt. Firing AX MCs and Rockets into the Cyclops face point blank, and even taking out hearts from there.
The ship is effective. I never lost a combat/ship to any Cyclops I engaged (I killed them all). Even with all the time stuck in the lightning.
However, a Hydra I was trying to avoid spotted me, and destroyed my T10 in less than 1 minute or so. I was in an AXCZ tonght, and when the double Hydra appeared, I had landed to repair. There were 4 other skillful CMDRs there, so why not try? I launch (100% hull) and immediately realized the other CMDRs all had left. I was cut down to 31% hull before I could make a single, huge, slow circle and back down to the pad. Feels like landing takes longer than killing a Cyclops.
One other difficulty is drift. Trying to land the T10 under fire, wow does it drift. Into the ground, into the pad. Drift. However, this is very possible to mark up to bad piloting (along with my other difficulties).