I never really have too much of a problem cycling, gamling pulls out the possessions, mouth of sauron pulls stuff for the minion side at least once, and I don't mind discarding most of the cards in this deck. It tends to pull maybe three minions a hand and I save the important ones for good combos, it works out pretty well. I have so many companions because I like to play at least three or four as a buffer for more important companions. While the deck could probably be downsized a bit it wouldn't need to be very much.
At the end of a game it isn't uncommon to have 50 or 60 cards left in the deck and most of what I need has been in play for a while either pulled or drawn.