This is probably the most controversial subject for basses. Do you feel that using a pick is "cheating?"

Personally, I don't think so. Playing with a pick doesn't really make you bad, but if you play with your fingers, you're awesome.
Well, in my opinion, you really can't get all styles of bass playing only fingerstyle or only with a pick. To be a truly great bassist, you should be able to use both well.
Ibanez RG350DX
Peavey Vypyr Tube 60

Currently saving for:
Agile/Gary Kramer 7 string
i've seen plenty of people play finger style and they still sucked. picks or fingers dont make you good or bad. if you're a good bassist who uses a pick, you're still a good bassist. there are amazing players out there on both sides of it.