What people don't understand is crap like Punkbuster can easily be emulated. That means a dummy program is created and sits there at the network layer and sends back "All is ok here" responses anytime the Punkbuster server asks for a status update.
PunkBuster is only good at catching amateur cheaters who download scripts that modify/interact with the existing Zenimax client. Real botters don't do this.
Once again. Client solutions are NOT the answer. They never will be.