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Madoka 10

 Spoiler

Encapsulates everything about the series that has made it wonderful. Also as far as Madoka having immense power, it could be due to the fact that she had been held back by Homura for an extended amount of time that led to her wish being particularly meaningful. Another idea is in the last episode with Kyouko, when she was able to summon immense energy and perform a kamikaze attack on Oktavia. Such a move could have been used by Madoka which would explain how she defeated Walpurgis in one hit, yet consequently died in the process.

I enjoyed Kyuubey's rather nonchalant remark that ran along the line of, "Hey all life on the Earth is going to end and I met my quota! Today's awesome, don't you think Homura?" Also in the pic that Spidey posted, Kyuubey is surprised about Homura being from another time line. He is the only contractor, therefore how was he not aware that he never formed a deal with Homura unless she has altered the rules behind her power with further development. You would think that Kyuubey would be more interested in harvesting energy via Homura's abilities rather than looking for a one hit deal from Madoka. However, perhaps he is just an independent salary worker and really couldn't care about the sustainability of the energy he collect. Oh the speculah.

Sayaka. Her familiars are different.

Also may be possible that

 Spoiler

Madoka actually gets more and more powerful with each recursion. First time, she died after the battle. Second time she was hurt, but just became a witch after. Third time she and Homura fight together and both get mortally wounded. Fourth time Madoka is able to take on Waluigi all by herself, and with just one blow as well. It's possible that she's more and more powerful, but of course we don't have enough information to really see if she's getting stronger or not. We never actually see the fights, nor do we see what becomes of Madoka after the fourth loop, aside from obviously becoming a witch. We know she took it out in one shot, but we don't know how. She probably used one of those FINAL BUSTER moves like Kyouko and drained her soul gem.


As for the thoughts on Kyubey, I'd say it's possible that there's just a bunch of contractors. Kyubey knew he didn't make a contract with her, but perhaps someone else did. He did find her suspicious in some way though. In our current loop, we saw that he even formulated a plan against her from the very start. If you notice, when she kills the first Kyubey in the hallway, a second one noisily appears behind her, and just waits for her to acknowledge he's there before running so that Madoka can see Homura as someone bullying an innocent creature and distrust her.

Kyubey never tells us his thoughts really. It would seem he knew something was up with Homura, but didn't think it'd be too important to look into. At the end of the fourth loop when he's all like "lol not my problem to deal with, everything's cool on my end" he doesn't really put the pieces together until Homura Time Roulette's the hell out of there.

He probably didn't try getting energy from her in this time line because he was planning all along to use Madoka anyway. He probably knew Homura would never be able to handle it on her own, so just let things progress as normal.