I pulled a whole page of cloaking content which was IP targetted to Google alone. There was no cache... ...came out of the snippet. Searched for the URL; got something like:
[TITLE HERE]
SNIPPET LINE ONE
SNIPPET LINE TWO
[URL HERE]
Next searched for:
site:[URL HERE} "(END OF SNIPPET) LINE ONE * * * *"
This results in:
SNIPPET LINE ONE THEN THE NEXT PART
Searched for:
site:[URL HERE] "NEXT PART * * * *"
This results in:
THEN THE NEXT PART OF THE TEXT
Searched for:
site:[URL HERE] "OF THE TEXT * * * *"
This results in:
NEXT PART OF THE TEXT AND SO ON AND
etc.
So you must absolutely remove your snippets if you are cloaking content to Google. The same process works fine in reverse " * * * * known bit", to get back to the beginning.
Just using META DESCRIPTION is not enough for this; so long as someone specifies terms at your URL which are not in the description; Google will generate a snippet instead, giving them a route into the page via snippet looping.