Cloning, where do you stand?

The recent Cloning articles with the US FDA approving and most of the world banning is sure to fan the flames of debate. Is this going a step too far and what will the consequences be?
As with all these things, my initial reaction is 'What do we know about long term effects?', and can we actually do anything about it?
The GMO issue flared up strong feelings (and still is) with opposite sides of the Atlantic coming down with 'broadly' the opposing views. The US consumer was said to be OK with it whereas, the EU consumer was reportedly ready to burn down the doors of Monsanto. Over time however, the EU has slowly allowed more tests, more products onto the market and the consumers fears of not being able to block the advance are coming true.
My own view is delay the gate being opened to allow more studies into possible