I feed out of a bunk style in a barn and there is very little waste.
I also free choice in the pasture on both an old wagon with no deck-just the runners and a cradle feeder. I always see a cow up in the craddle crapping on good hay, not a big fan of a cradle. My wagon set up seems to waste less hay as they can't stand in it, they have to eat and it falls down as they eat. Just my 2 cents. Never tried a cone feeder.