with most current browsers nowadays, iframing will treat the cookies dropped as 3rd party. Unless the site/advertiser supports Compact Privacy for the cookies dropped, you will lose conversion/sales.
also, most other offers will break out of the iframe anyways.
I once tested this on a mailing which netted about 1800 clicks and
grossing a meazly $200 on multi offers. Then, i took out the frames
and did a test mail again. Generated 2000+ clicks and converted like $1600+
anyways, thats my 2cents on iframes and aff marketing.\
TO cloack your referer just use meta refresh/header refresh/ of java redirect.
Point your sites to a page that does the refresh or redirect.
On redirect avoid php or cig usage of location: as that will carry over referer
On php a header refresh works fine and better than a meta refresh
since it is in the headers.
anyways, that my 3cents on referers