why you want to do clocking? to fool search engine? you think you can do that?
Yes, you can fool the search engine, because it is a machine, not a human being.
You can't fool human beings, but as long as search engines are bots, which are programs, that only follow commands, we human beings can fool them, so cloaking works, and will work for a long time.
Are search engines getting smarter? No, they only get updated, we humans get smarter, machines only get updated, but for every update, humans find new ways to fool it, and cloaking is still one of the best ways. Also, have you noticed how lately, security systems have improved. Corporations buy the best firewall technology, but hackers are always able to fool their systems? Do you know why? The answer to the latter is the answer to the first question of this same paragraph.
Cloaking was only left aside when WordPress and its content generators came along, because that is easier to use, but not necessarily because it gives better results. Also, WordPress came along at the same time content was being provided for free by directories as ezine, goarticles, etc. Before that cloaking was the way to autogenerate content fast.
Now, how you use cloaking is a completely different topic. We all know cloaking is mainly on page seo, so you still have to get your links, and there are many tools for that as well.
But as a FAST content generator, there is nothing better than cloaking, and if you worry too much about latent semantic indexing, and GYM being able to recognize/read your content, then you are being fool. That is simply impossible, GYM only follow patterns that programmers create, that is all. GYM only sees strings of characters, and if the human who programs it, doesn't tell the bot how to interpret those strings, we can fool it, simple as that.
Can you get caught for cloaking? Of course you can, and that is why you should never use cloaking on your main selling site. If GYM catches you cloaking with mini sites that direct traffic to a main site, that main site can't be banned, only the site that provides the cloaked content. So, have many cloaking sites and a single well designed site with fine robust content that can help you capture the email of the visitor, and then send them newsletters with content that sells your affiliate products/links...
Any many more strategies you can use to make money online...