According to the No Mercy weight system, a cruiserweight (or light heavyweight in that game) weighed 230 lbs or less. 231 would make them a heavyweight. But in real life, a WCW cruiserweight = great worker/wrestler.
WCW always played fast and loose with those weight limits. Wrestling's all about perception anyway, not reality; if you can convince the audience that so-and-so is a cruiserweight, then for all intents and purposes, they are. You just need to present them that way. Giant/Big Show certainly is not 7'4", but he was billed that way, and the production crew always made a point of filming him so that he always looked that much larger.
I've always had mixed feelings about the whole idea of a cruiserweight division. On one hand, we got some great matches and storylines out of it (Jericho/Malenko immediately springs to mind), but it also kept them out of the spotlight, segregating them to the opening matches so that their overwhelming talent wouldn't threaten the top spots monopolized by Hogan, Hall, Nash, and others. It's comparable to the creation of the Best Foreign Film Oscar in 1956. That award was created because so many European films were winning Best Picture Oscars, and the Academy wanted to protect the interests of American filmmaking. Same thing goes for the cruiserweights in either WCW or WWE. I think it was a way of dividing and compartmentalizing the roster so that the young, agile cruiserweights couldn't mix with the old, lumbering veterans and make them look like the has-beens they so often were.
"You shall know the truth, and the truth shall make you mad." Aldous Huxley http://codereddnet.blogspot.com
The selection of cruiser-weights in this game is quite amazing... As is the overall roster as well, in terms of the sheer number wrestlers with big names and/or high levels of in-ring ability. So many cool match-ups to be made. Such a shame that WCW itself was run so poorly and that on an average Nitro or Thunder one could expect to see one or two decent-to-great matches... and potentially hours of unwatchable crap to go with them.
The whole perception thing is pretty much obvious. You can tell the way the camera angles were back in the day watching WCW. Man I miss the Monday Night Wars. I'd watch the first hour of Nitro, switch to RAW, then watch the Nitro re-airing that same night.
The one little thing that bugged me is even though they included newly created moves and taunts for a good chunk of the roster, they stuck Hulk Hogan with Flair's face-flop special even though Hogan's never done a face-flop, and his leg drop is just a generic leg drop with absolutely no power behind it. And it's not as if they couldn't have given him a running leg drop that has a higher power rating. In Virtual Pro Wrestling 64, Bruiser Brody (for example) has a running jumping knee drop which can cause a knockout and bleeding.