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The only cheat I am aware of is the "no fog" cheat - which can hurt you as much as it helps since it cripples your machine speed to try and draw everything.
There were several "exploits" in v1.4 though that anyone could use. They involved problems with object collision mostly. I imagine most of the really bad ones have been fixed by now.
View Quote
There are a ton of cheats available. They come and go with various patches but here are a few of the cheats that have been available:
turn infantry and vehicles into neon colors
add red and blue arrows over infantry heads
allow infinite zoom
add radar to track enemies(shows all people)
remove fog
auto aim
On the plus side the next patch (BF 1.6/DC 0.6)is supposed to have "Punkbuster" integrated into it.
I don't think cheating in BF42 is anywhere as bad as it was in Counterstrike/TFC. I tend to play on clan servers because they usually have Admins in game and watch for the cheaters who do show up.