Yes, that's interesting. However, in other respects, the Cyclops isn't very useful in battle: low initiative, low defense...
Why would he need action points? He's a ranged attacker, and if he's in melee, he shouldn't even need to move. His initiative is low, that's true, but imagine if he also had 5 initiative and 5 speed :D with his health and damage. That would be a hilarious Cyclops.
