I'm not a huge fan of either semi-pb or perfect parry. While semi-pb encouraged better timing on your swings, I personally felt that it just helped to stall duels massively, maybe it was just the many combined elements of mechanics and changes in e.g. 1.4.2 that caused blue vs cyan duels to last 5 minutes, and that semi-pb could function better in Tempest's build. Even then I've felt that one reason Tempest's build can end up flowing better is because semi-pb was removed.
In my opinion, perfect parry has always felt like an luck based mechanic that just causes confusion and adds some luck based elements to dueling that no one ever wanted. One example was when I tried to do some decent damage with red via parrying (I'm a bit shit with red btw), but my opponent managed to luck out with three perfect parries in a row, and with the really high swings drains on red I ended up eating shit due to luck. Another example involved a duel in which I was using cyan and if I remember correctly, my opponent was using yellow. The duel appeared to be an equal match as neither of us seemed to have been picking up a discernible lead against the other... at least it went like that until I managed to chug out three shitty ol' accidental perfect parries in fairly quick succession, which let me build enough acm to stomp him into the ground.
As far as cyan itself goes, I've always really enjoyed using it (probably my favourite saber style overall) but in these most recent patches I've been using it for it's nice combination of speed and damage, along with how it works nicely with default parrying. I couldn't give a shit or two about it's perk however, simply because it's built on such a random mechanic.