One of the best ways I have found to cloak links is via one of my blogs. I have a few blogs setup for different niches. For each cloaked link I want to use whether it's in an ebook, forum, classified ad or anywhere else I use a plugin called Link Cloaking Plugin.

You can get it here: ø Link Cloaking Plugin for WordPress | W-Shadow.com ø

Then I use that cloaked link for every affiliate link I use no matter where it is. It works like a champ and looks like a regular link. Another benefit is that is when people hover over your link (as we know they all do) it simply shows an elegant link to your website and they feel more secure in clicking it.

Rick

P.S. Must have a WordPress Blog for this plugin