It would depend on what kind of cheating. Blatant cheating by one nation such as Germany, France, UK, US or something like that would be kind dull. But if it is a small nation, or the use of cheats to give the game a whole new interesting twist (i.e. giving every nation every tech, then starting WW2) would be kinda interesting to read.
In fact, I just thought of an interesting AAR using cheats. How about you give every major nation..... 25 nukes? Then, play a hands off game and see how the world tears itself apart.