Google-safe affiliate link creation - expert advice wanted

[MemberWing]

I am working on software to automate affiliate link creation within web pages.

Question to affiliate experts: what the best way to manage/cloak affiliate links?

My current vision is to use PHP and javascript redirects together via "onclick=..." construct.
Such as:

<a href="MYSITE.com/goto/nokia-n75" onClick="parent.location='http://MERCHANT.com/affid=5&page=123'">best nokia phone</a>

MYSITE.com/goto/nokia-n75 - will be visible link, pointing to my own site.
It will redirect spiders, crawlers (but not real visitors) to some non-affiliate location via PHP redirect.
But all visitors will be sent to MERCHANT.com/... via javascript. I don't worry about non-javascript browsers - they are minority.

So spiders will never see any affiliate links but all visitors will get where you want them to go and your aff. links will never be visible.

Is that a reasonably decent way?

Gleb