Quote from LuckyStar1:

UPDATE: Well the monster has gone down a lot and is now peeling. It is now a pink color but a bump is still there...
But I am really interested in these cortisone injections. I will have to ask my derm about it. Anyone have any luck with them... any experiences? How much? Any downfalls?

I have gotten 4 injections in my time. They were all awesome fixes. I would get the injection and within about 5-8 hours I could already tell the cyst was feeling better. By the next morning they were noticeably smaller and within the next two days they were nothing but a distant memory. The first 3 injections were by one derm and the most recent was by another. The last one did leave me with a divet and discoloration. Probably meant he used a little too much I guess. I didn't get that with the first 3. That divet and discoloration last maybe 4-6 weeks after. It's completely resolved now.
And that divet was much better than having to deal with the original perpetrator. The medication used is called Kenalog. It's a steroid/antibiotic I do believe (do not quote me on that). I'm told they are only effective if you get them within the first two or three days of the initial appearance of a cyst. But I know I have gotten it after that first 3 days and it has worked just fine. I asked my derm for a standing order for the injections. Meaning "Can I call in the morning and get in that day." I turn desparate when these things arrive. lol

Hope this helps.
Good luck!