I personally think that the layout more resembles traditional B&M hyper than giga. Also, I might be completely missing something here, but why would the park file a 220ft height waiver and then build an attraction 80ft or more taller? Surely it wouldn't be allowed, but I'll admit that I know very little about that type of thing.
Also, the only hyper-style giga coaster (not sure if that's the right name for it or not) that I know of is Steel Dragon 2000, which was manufactured by Morgan and apparently cost a lot of money (I heard $52millionUSD/around £40million somewhere.)
But I'm open to surprises! Besides, I'm sure this will be an outstanding ride even if it doesn't claim any Pennsylvania records; size isn't everything, in my opinion!