The way i see it, fishless cycling is a new game and there are many avenues left unexplored so far. The 5ppm of ammonia processed entirely into nitrate within 12 hours is a benchmark which was set probably without all the relevant knowledge and information (since we all seem to still be learning now).
If several reports have indicated that this benchmark may be on the cautious side, and that a full tank of fish won't cause a spike in a filter which is trained to process say, 3ppm in 24 hours, then by all means Stormy, water change and stock.
It does of course depend on many things, mainly how heavily the tank is going to be stocked. Stock too heavily and you will suffer ammonia and nitrite spikes as the filter will be unable to cope. Stock too lightly and the excess bacteria will die off effectively losing much of the benefit of fishless cycling.
Indeed, if a tank is stocked lightly enough and slowly enough for a fish-in cycle, and partial water changes performed religiously every day, it can be just as effective as a fishless cycle as the small amounts of ammonia being produced are all but removed by the water changes leaving a tiny amount for the filter to process until it is trained in doing so, then another fish added and so on.........unfortunately almost everyone is either too impatient for this or just fishless cycles to avoid any risk.
I would imagine that although the bacteria's growth process rate may not be linear, once the colony is established, the amount of waste processed probably is (or at least almost). Therefore, we know that 5ppm of ammonia processed in 12 hours is safe for a full stock of fish, and we know that you can consistently do 5ppm in 24 hours, so i would say you are safe to half stock the tank, maybe more but i couldn't recommend it.
I wouldn't say that you are cycled, but probably due to lack of substantiated information rather than anything else.
Learning is half the fun, eh?
I'll be interested to see how you go, Stormy.
Cheers
BTT
)
Erm..... I probably could add 0.5ml every few hours on Saturday, it gives me an excuse to miss a kids party 
Should I stock lightly at first? I would like to add 2 male Apistogramma cacatuoides, 4 female Apistogramma cacatuoides, 12-15 Cardinals initially. Then after a week or so I plan to add 12 or so Rummy Nose Tetra's. Then after another week or 2 add some Oto's and maybe 6 corys.
