I don't think Mystery counts, you can finish all the parts of the quest well before you hit the level cap, IIRC (It's a been a little while since I did the Mystery sets the first time).
I don't think Cyber is as bad as Snowball. The Cyber rewards are a lot better than the Black Ice ones, plus you'll wind up with a lot of other pinks during the quest, most of which are very effective items in their own right.
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