Unless I know for sure that a particular coral/invert requires or benefits from target feeding, I just feed the fish. That seems to work best for me.
I've tried some liquid/mush foods, phyto, additives, etc. in the past, but never noticed any benefit to my corals/inverts. Generally, adding that stuff just resulted in increased skimmate production and nuisance algae from excess nutrients IME.
That said, I do agree that cyclopeeze is good stuff - a lot of the fish and some corals gobble it up pretty greedily. I've only used the frozen version, but I think there's also a freeze-dried version too. Like any nutrient-rich food, I use it sparingly.
JMO/JME of course... ...YMMV.