The only problem with a wave like that would be that this Cyclops would be more or less identical to the wave 68 version. My ideal "Graduation" X-Men wave would also have other early X-Men, like Mimic and Changeling.
Marvel Girl/Mimic
Beast/Changeling as Professor X (I think this could work with a few alternate parts if Xavier came in a blue suit)
Iceman/Polaris
Angel/Havok
Granted, the Marvel Girl/Mimic pairing might be a bit too obscure, and I'm not sure how likely DST would be to make an O5 set without Cyclops, in which case your line would be great, especially if that Cyclops came with an optic blast mask.