My understanding is that it is the same system resold by C5, manufactured by PowerArc. The system resold by C5 indicates the need to use "their" coils and wires for complete function. That's okay by me, as the price complete is equal to a Dyna system.
Two specific advantages I'm told are the PowerArc does not remain charged at all times (easier on electrical system) and the timing curves can be programmed. That's an extra module, but, may be worth it. I haven't bought mine yet, but it is planned for my 500 build. There are a few threads on here about it, also search "PowerArc" and "optical ignition" to uncover them.
I've only seen positive feedback about the core system, and been highly recommended to the C5ignitions.com setup. I don't know the difference between it and CycleX version (if any).