I don't do the 4-5 interview thing any more either. If you cannot make a determination in 1 or 2 interviews in person - in combination with my work history and references then you are wasting my time and yours.
Completely agree with you, and if am going on a 4-5 interview step thing and blackboards are presented etc then I want you to be able to offer same sign on bonuses and perks big companies can offer.
If the only thing you have to offer is equity (risk) and a lower salary than what I was getting/market salary why don't I just save me some time and risk it all by starting my own company.
I have also had some dealings with Stryker and without getting into too many specifics I will say they seem horribly disrespectful to their candidates.