Cosmo I agree. Standby is definitely cheating because it involves outside hardware to gain an advantage but the swrod glitch only requires 2 weapons and pressing of the right buttons. Anybody can do it.
Actually, I think standby and glasswalling are the only kinds of chetaing out there. Glasswalling is probably never used on live but I've been standby'ed a few times. I usually report people using standby after the game because it's better than nothing but in reality, to get banned, you need 250 cheat reports from sources that are not on the same buddy list, clan or recent players list.
Then theres other things such as passing bombs and flags through walls and floors. That can get aggrevating but I still dont consider it cheating since all players can do it. If you think you have been cheated, you've been cheated by bungie for making such a glitch filled game.