At least that is what the cloaking genius, Fantomaster, says in a Search Engine Watch thread renamed to A Little Help Needed Regarding Cloaking.
The thread starts off with an SEO saying that his client is set on signing up with Fantomaster's products or services. However, the client feels that by deploying cloaking, you will rise to the top without any work or effort. That is not the case! Even Fantomaster himself said, in the thread;
So if that client of yours is so desperate indeed and truly believes that cloaking will solve all his problems, I'd positively advise him against going for it because he's obviously quite clueless regarding the SEO game in general. For as Mikkel and Ammon and so many others have already pointed out: it's about business - and it's about the correct use of tools.
The bottom-line is that when using cloaking it is important to understand why. You need to understand your short-term and long-term goals. A professional and experienced SEO will then be able to formulate an effective SEO strategy for you. It may be a mix breed between white-hat SEO and black-hat SEO, or it may be one or the other.
More at the forum.