It depends what you want at the end of the day. CM has a lot more in terms of customisations but can be a little buggy at times. Paul's MCR is based on stock so should be a lot more stable. Personally, I prefer CM
I had a look at some screen shots of that "pie" doo-dad - seems to take up a lot of screen space for what it does...
FWIW I quite liked the PACMAN roms on my xperia ray - these were a hybrid of Paranoid Android, Cyanogen and AOKP and were / are riddled with customisation options
Great to meddle with but I found myself fiddling more than using the phone for its purpose! Plus I'd inevitably tweak something and miss a day's calls cos I'd turned the ringer off or summink. I did like the Swagger setting from AOKP though - Paul, if you're listening you might want to kang this game-changing feature for your Modaco roms
I'm gonna stay put on Paul's weekly cyanogenmod iterations for a bit - at least until Android 4.2.2 drops in a couple of weeks (if you believe the xda rumourmill)
I'm not to sure you know how the pie works. The pie is only there when you swipe up when you want to go back or home. You can alter the size of the pie from very small to very big. The more you use it the more it becomes second nature and you don't even see it when you use it.