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ex: >cloaking requires constant monitoring of new spider IP addresses in order to avoid banning.
Also, I know this has been asked, and people have danced around the answer, but I would like it if someone would bluntly answe the question : What are the risks of cloaking your site and the consequences of being caught? I do not intend to spam, only to rank better with a cloaked page including only on-topic keywords to my site. THANKS SO MUCH!!!!
You're asking non SE employees, all we can provide is anecdotal responses. I responded to a similar question a few weeks ago:
"My experience is that most major SEs have concluded that cloaking is not a leading source of spam and are generally ignoring cloaked pages that are relevant to the human page you promoting."
Additionally, my experience leads me to conclude that INK based engines and Northern Light will bury cloaked pages in their rankings, if detected, and that none of the engines presently ban for cloaking.