Is cycling the most efficient way to extract power from human muscles? I would guess something like deadlift/rowing motion to be better
Edit: Corrected typo noted below - "skull" to "scull" - oops.
http://rowingbike.com/site/EN/ shows a bike operated using a rowing motion. That machine is competitive with 'normal' recumbent bikes, except in climbs. The main parts also could be fitted on that Decavitator. I would expect similar speeds.
Cycling is, among many things, very smooth, which helps when dealing with such delicate machines.
Source: Powerlifting cyclist here. :)