Well since rolled composite bats have been "outed" in college by the NCAA I would say it's cheating @ that level and the other levels may follow suit! But until they're banned @ lower levels I guess it's still ok.
On another cheating note, one of sons friends that graduated last year and was a college pitcher answered an ad on Craisgs list for a pitcher for a mens fast pitch league championship game. He was paid to play under another name and pitch in the championship game. They also had another ex-college player under an assumed name playing. They lost (karma?)