EEEK! Ermor pretender!!!! (SP)

Depending on the magic you have availiable I'd keep the Elemental Hauberk, Boots of Behemoth. From there it would really depend on what you are facing. Since the Cyclops tramples, he doesn't need a weapon for anything but defense. So I'd go 2 Main Gauges of Defense (+6 Defense each) since they don't add to encumberance (your real enemy). Put a Ring of Regeneration on him and probably an Amulet of Antimagic.

What I like to do with a Cyclops is put on Some Stymphalian Wings, Boots of the Messenger, Lucky Coin (If he can't cast Personal Luck), Starshine Skullcap (for MR), Ring of Regeneration, Amulet of Anti-magic and then either some defense or lightweight shields, Vine Shield and Eye shield are good for this purpose.

If you're fighting anyone who uses elemental magics heavily you can swap out a shield, weapon, or misc to fit the type of magic, or if you don't know and are afraid of magic heavy nations, take the Elemental Hauberk and use Boots of Behemoth, though it means you can't fly which makes you less of a threat.

If your Cyclops has access to Astral Magic he is even more deadly since you can have him cast Resist Magic, Astral Shield, Personal Luck, Body Ethereal and go to town and mess up most anything he finds with any sort of decent equipment.