If you can't find a purpose for Steel Cyclone, you're kinda doing it wrong imo. I use it on the initial pull quite a bit if flash/overpower wont quite reach everything with 100% certainty or in situations like the goo boss in Wanderer's Palace where you can stand in the middle of 3-4 spawned adds and grab them all with your 360 Steel Cyclone. The fact that it doesn't have an emnity multiplier hasn't really bothered me much as the 2x you get from Defiance is enough to grab sufficient emnity in one GCD, in order to bring stuff in range for a good overpower or two. Heck even as a damage skill in moments where you are clearly not in danger or don't need to use wrath stacks on IB, Steel Cyclone is still a very good aoe dps skill. It's easily a 500HP heal as well when used on 5+ mobs with bloodbath up.