Due to the possible cholesterol issues, moderate anabolic steroid cycles may be best served with SERM’s in order to protect against estrogenic related side effects. SERM’s will not negatively affect cholesterol; in fact, SERM’s like Nolvadex have been shown to promote healthy cholesterol levels due to their ability to act as estrogen in the liver. However, for many a SERM won’t be enough and AI’s will be necessary. If an AI is necessary, the individual should limit his use and only use as much as is actually needed. Some have suggested that a 10mg per day dosing of Nolvadex along with your Arimidex use may actually aid in cholesterol management.
Anastrozole has been tested for reducing estrogens, including estradiol, in men.  Excess estradiol in men can cause benign prostatic hyperplasia , gynecomastia , and symptoms of hypogonadism . It can also contribute to increased risk of stroke, heart attack, chronic inflammation, prostate enlargement and prostate cancer.  Some athletes and body builders use anastrozole as part of their steroid cycle to reduce and prevent symptoms of excess estrogen-- gynecomastia , emotional lability and water retention.  Study data suggest dosages of mg to 1 mg a day reduce serum estradiol by approximately 50% in men, which differs in postmenopausal women. 
One Arimidex side effect of importance is the possibility of Estrogen rebound. This exists in particular with two of the three most popular aromatase inhibitors (Arimidex and Letrozole). The third aromatase inhibitor, Aromasin (Exemestane) does not share this same attribute of the possibility of Estrogen rebound. This is because unlike Aromasin, Arimidex is a non-suicidal aromatase inhibitor. This means that Arimidex will bind with and disable the aromatase enzyme, but it does not do it permanently. At some point, Arimidex will dissociate with the enzyme and the enzyme will then be free to do its job again in the body. What this means for the end user is the risk of a rebound of Estrogen levels (and thus, Estrogen related side effects) if Arimidex use is halted too soon or abruptly after beginning use.