Look, either it's allowed or it's not. No exceptions to rules or everything gets complicated and fussy.
Cbug doesn't give a huge advantage, it just lets players who like using it practise their favourite technic. New players will get raped by experienced players with or without cbug and that's fact. New players that can't aim most of the time think something is messed up or there's a bunch of hackers with or without cbug or switching for that matter.
Situation:
New player with a deagle and a bat.
Against:
Not so new player Sawn off shotguns and Uzi.
From my experience, it's way more fun to actually shoot at the person with a deagle or a walking weapon because he'll actually try to put up a fight, but with sawns and uzis it's so easy and 90% of the time they just run away.
With cbug, there's a small advantage for those who are new players to the server but not new players to SA:MP can actually put up a good fight. A good ww'er doesn't need cbug to own a half decent rw'er, but it makes it easier and a little more fun for him.
Also, if cbug were to be allowed, that's one less thing for the staff to be looking out for.