Depends which model?
Cyclone I - MIM, 1 x humbucker, 1 x single, strat bridge.
Cyclone II - MIM, 3 x AVRI Jaguar single coils, comp stripes, strat bridge.
Toronado Deluxe - MIM, 2 x chrome covered Fender humbuckers
Toronado GT - MIK, 2 x Seymour Duncans, racing stripe
Toronado - American, 2 x 'dove' pickups.
Toronado reissue - MIM, 2 x exposed Fender humbuckers.
I can tell you from experience the Deluxe and GT Toronados are great. The GT is the most 'meaty' Fender i have ever owned.
Cyclone I's are usually the cheapest second hand of the whole bunch. Cyclone II's seem to be getting rare.