One of the simplest yet most ingenious features of Wordpress Link Cloak is that you can choose to cloak all your links to a directory struture (www.blog.com/affiliate) or a file structure (www.blog.com/affiliate.html). Now the real question is, which one is better? Okay, I lied, that’s not a real question as there is no real answer. The format you used really depends on one thing, what structure you use on your Wordpress blog.
Say for example your blog posts all end in .html then I’d recommend doing the same with your cloaked links. If you’re using the permalinks feature to have blog posts such as www.blog.com/blog-post-title-here then I’d suggest making the Wordpress Link Cloak options set to a similar structure.
The aim of the game is to make URL’s not scream “I MAKE MONEY FROM THIS”. If a URL is different to the structure of all your other URL’s then they begin to get suspicious (that’s bad).