Sleight of Hand is eternally linked to cheating and theft via its history and its evolution. To say one is an "honest cheat" is a cute axiom, but is nonsense. You might deceive to entertain, but you cannot by definition of the words "honestly cheat".
I would no longer use my physical skills to manipulate the outcome of gambling. Psychological methods and tactics are, however, still totally acceptable to me. I use them often, and successfully.