Honeywell Cycles Per Hour/Temp Swing setting. Does anybody understand how it really works?

I know the setting can be changed from 1 to 9 CPH, and it does affect cycle time. It does NOT equal the true cycles per hours, regardless of how much/little load is on the system.

I've read in the install manual where Honeywell uses some type of P+I control to hold the temp steady, does anybody know exactly how it works?