PeterPoddy:
I have a Cyclo tool I use at work (as I’m on the C2C route!) and use it for maybe 4-5 spokes a week in season, at most. I find it works fine and is perfectly acceptable as a ‘get out of jail’ play for passers by if I don’t have a workable spoke.
I’m anal about oiling it for each roll, never rolling stainless spokes and roll 2-3 times for each thread, tightening the dies each pass after testing a nipple on it. Works much better when you have an existing thread to chase, then extend, cut and de-burr. In answer to your question, I certainly find it reliable, just not quick! Its a great service for me to offer customers though, as I can always make something work to get them going, just not the most profitable!
It is a real faff though, and I spend a few minutes on each spoke! I have it strictly for repairs though, and for that, it does its job well, all things considered. I wouldn’t contemplate using it for a full set for a build, such as this threads purpose.