I would say the Cyclone is definitely more of a solid workhorse and more flexible in terms of having a really playable neck. Cyclones are one of my favorite guitars though... I have the Squier in LPB, a graffiti yellow one like above with Lace Sensors, a wilki, LSR nut, and locking tuners a la Strat Plus, and I have one of the USA models in LPB that were only sold in the Japanese market which I put Lawrence Microcoils in. All of them are great and really fun. The Squier has a little thinner neck but is sometimes even the most fun to play. I actually like everything about it except the bridge pickup. I would probably change that if I played it all the time. The most recent run of Squier's are alder where most of the Mexican ones are Poplar I believe. I think the last run of the Mexico Cyclone I was listed as alder but they wouldn't be too common.. I am actually not sure which mine is made from. I have actually never taken a group shot so I suppose it is time! Not sure if Google photos will cooperate posting a pic here but lets give it a shot:
You can see that the shade of the US version is quite different than the Squier.