Yes - better support for loops is something that is on the to-do list for MyCyleTour.com. At this point the simplest way to input a route is to pick an end-point that is somewhere along your route, perhaps the furthest point out, then create a waypoint for another point along the route. Once you have done that you can drag the end-point to overlap the start-point and then fill in other waypoints to define the loop. It does require a few more steps, and it would be easier if loops were better integrated.

The limit on waypoints is unfortunately a limit to the underlying google maps api that is used. It can ultimately be expanded to 23 waypoints, but this will be a little further in the future. In the mean time the Link Routes option does allow people to expand on the 8 waypoint limit by defining trips that contain more than a single route (which are in turn linked together).

Where many of the other ride mapping sites do a good job in mapping, they are mostly training / performance sites and focus less on providing information and data that is useful to people doing longer trips. As an example, some of the recent additions include the ability to overlay Panoramio pictures on the map to get an idea of what you'll see along the way. There are also some other features in testing that includes the ability to use the map to see hotels, B&Bs, restaurants and other attractions. All focused on providing info for touring trippers versus people just out for exercise.