I main Cyber and find him to be very versatile. His diverse tools and speed are what attracted me to him over Sub-Zero. Unfortunately, like someone pointed out, he doesn't excel at any one thing. His biggest strengths are his mixup (two low strings and a relatively quick overhead), his difficult to punish divekick and his parry. His teleport is very punishable both at startup and end, but I still find it useful in the right situations. Teleport/parry catches a lot of people off guard. Enhanced parry while trapped in the corner can lead to nice setups, but is unreliable and punishable. His bombs are complete garbage. It seems random whether or not they successfully freeze someone and their radius is tiny. Worse yet is one is mapped to f f 3, which makes it damn hard to rush in for an overhead 3 4 or 3 3 2 low string. That small issue can really kill his momentum sometimes, both because you can't do what you want with the speed that you want, or because your accidental bomb just got you punished.
He has powerful midscreen combos, the best I have with no meter right now is 41% (somewhat difficult) or 38% (very easy). His overhead can be turned into an easy 27% and he has some nice 43-46% no meter corner combos. His x-ray can be linked from 2 1 1+2 or more easily from b3 2. Very solid character for damage. Finding an opening for a freeze combo is the difficult part if you're playing competent opponents.
Overall I enjoy him very much, he's not S tier by any stretch but he's definitely good. Highly recommended A+++++++++++++!