Heat the water, butter, salt, and ¼ teaspoon of the cinnamon in a saucepan over medium heat until the mixture comes to a full boil. Reduce the heat to low; add the flour all at once, then beat with a wooden spoon until the mixture comes together and forms a dough that clears the sides of the pan. Cook, stirring constantly and smearing on the bottom of the pan over low heat for 2 to 3 minutes. The flour will begin to coat the bottom of the pan.
Transfer the hot mixture into the bowl of a food processor fitted with a steel blade. Process for 10 seconds to cool the dough. With the food processor running, add the eggs through the feed chute and pulse until they are incorporated into the dough and the mixture thickens. Scrape down the sides of the bowl, then process for 30 seconds until a smooth dough forms.
Transfer the dough to a pastry bag fitted with a 1M large star tip.
Add the oil to a medium saucier pan fitted with a candy thermometer. Heat the oil to 360°-365°F. Hold the piping bag vertically several inches from the hot oil. Pipe 2-inch strips of dough over hot oil, and cut the dough with kitchen shears or a sharp knife, dropping the strips into the hot oil. Repeat until about 12 churro strips have been added to the hot oil. (See Tips 3 and 4)
Fry the churros, maintaining the oil temperature until golden brown, four to five minutes.
Remove the churros and drain on a paper towel-lined pan. Repeat with the remaining churro dough.
Mix the sugar and the remaining ½ teaspoon of cinnamon in a medium bowl. Toss in the warm churro bites until well coated. Place on a serving plate and serve with the chocolate dipping sauce.
Yield: About 8 dozen churro bites. (See Tip 5)