I remember using this as a set mechanic in a community project.

Notable this is flashback, so inherently card advantage compared to cycling's card selection. Since you can mill cards easily in most environments the activation cost of this mechanic needs to carry an appropriately higher cost. It's not enough to put that weight on the casting cost alone.

­A-Cobbled Lancer/Cobbled Lancer actually has gravecycle. We've gotten close before with Unwilling Ingredient. I like the colored activation cost on all of them. I'd never put a generic activation cost on gravecycle below unless I wanted to make the same kind of mistake WotC made with "cycling ".