Raghu,
You miss the most important part of the Cyg.. argh SILabs chips. They come with a 'built in ICE'.

There is no better debugging tool than the ICE and as opposed to buying one at $1500 up, you get it for free when you buy the connection cable (which is included with the eval board).

If I were in a situation where tool price was very important (small quantity products) there would be nothing but Cygnal in my circuits.

Erik