In my eyes if it can be done withing game's limits its not cheating. If there was an armor you could give Cloud to always take 0 damage, you'd use it. If there was a spell that cost 0 MP and killed any enemy, even bosses, you'd use it. Why? Because it was programmed into the game. Glitch or not, its there and will be used. Its not like I whipped out a gameshark and coded my guys. THAT is cheating. They give you Blood Swords, they allow you to hurt yourselves, and they programmed it the way they did.
Have you beaten the Weapons in FF7? did you mass use Mime and KOTR? thats cheap and dirty but I'll bet you did that. The reason you did was because it could be done.
Final Fantasy 2 sucked, but it bugged me that I hadn't beaten it, so I busted through the game faster than any other game I've played.
Its NOT cheating, its just cheap. But I'm an economical person and will do things as cheap as possible if it gets the same results in the end. Why buy a loaf of bread for $1.50 at a supermarket when you can buy it for .75 at Wal-Mart? Cheap works.