I know a site that did that, generated an "HTML mirror" of the site, and if requests came from a search engine, they rewrote all the URL's to the "html-ized" versions. Then, when humans clicked on the search engine links, since THEY weren't search engines, they got the "live" data.
Not that I would recommend that, especially on a larger site. <img border="0" title="" alt="[Smile]" src="images/icons/smile.gif" />
D