I have a charger that also cycles. I run new batteries through a couple cycles to get a warm fuzzy that they're performing near their rated capacity. I also cycle my existing packs about once a year to confirm they're still performing up to their rated capacity. Other than that, I don't typically cycle batteries.

If you have a battery tester, you can use it as a cheap cycler. They have a load that's supposed to simulate a flight pack. However, you need to be sure to watch the voltage to be sure you don't discharge the pack too low.