Cyclops is basically Khartago with a passive volume control. In our showroom, I have convinced Klaus to add additional HT bypass input and a switch at the back. I have posted photo in another thread.
Regarding the sound, it is even better than Etesian + Khartago. Probably because it eliminated some connectors in the signal path and cable length is minimized. It delivers even more pure and clear sound. It extended the high and low with better clarity. I connect it to the Lorelei (as I receive them together and both need break-in). The sound is great, very natural and comfortable to listen to it for long hours.
I turned the volume gradually to maximum. Unlike active pre-amp stage, with the passive volume control, the sound quality is great even at maximum volume. So what you need to check out is the maximum volume is sufficient. To me, it is sufficient.
If your amp get balanced out, you can get higher volume as balanced out is at higher voltage.
It is running in our showroom and for those of you in HK or travelling to HK, you are welcome to visit us and send us your feedback.