Signed...

Moneycheating makes the campaign way easier, of course, but actually one only has money problems in the very beginning. If you have conquered some strategical provinces you soon get loads of money every turn, there are always provinces being worth taken (e.g. almost all sea provinces in the Mediterranean for their huge trade or those with good mining).
And when cheating, I very quickly reach a point in the campaign where I think "what's the point?" as I became the ultimate unbeatable superpower in a single decade...
Mainly I cheated when I was new to EB and crumbled every few first turn, being overwhelmed with all the possibilities and factors one has to pay attention to...

As Fanatic stated, I love it when "things go wrong" because then one actually has to REact and not, as most the time in EB, be the initiator of actions. I think it's pretty cool if I lose an important and strong army during siege or several family members get slaughtered, offering an administrational problem.
To increase the possibility of such events, I try not to use the AI dumbness for my advantage and either help them out by moving armies or ignore their obvious dumbage...this way I have fewer, but way more serious battles, as the enemy armies stand united and not scattered 2-3 units everywhere.
And with alex.exe they also manage to unite their different armies in the battle itself :)

But that's only my opinion, each one his own way to ultimate EB salvation