I've been following this thread for the past few days and have picked up a few things along the way. Here is what I've learned, and hope this helps others who have been wondering about these things as well.
About me: I'm using an iPhone 4 with the newest swimming pool update. I've been playing the FreePlay for about a week and a half. I am on level 25, I have $700,000 Simoleons currently (however have had as many as $3 million at times), 50LP, 15 Sims, my town is worth $2,500,000. I have everything on the map. Of those 15 sims, 2 couples are married, there are 3 children between those two couples, 2 more couples are partners and living together. I have a level six black belt with one child and a level six professional ballet dancer with another. Each child currently has a B grade point average. The highest level I have in diving is 3, Fishing is 3, Ghost hunter is 5, and fashion designer is 3. Purchasing the Night club was the best thing I could have done with my LP. My Sims relationships exploded thanks to the DJ and the Dance floor.
As far as the Simoleons go after the pool update on Jan 31 2013: I've found that it's worked the best when you change the date in December every time you move it forward; so: starting in the present and making Sims do productive actions (either gardening or earning higher levels in hobbies), then close program (by double clicking home button and clicking on the Sims FreePlay red minus sign), change date in settings-general-date and time-automatic-off to Dec 1 2013, go into FreePlay, collect all XP, and $$, in the houses, AND on the map
(DO NOT COLLECT PARTY BOAT WHILE IN THE FUTURE!) , have all Sims do NOTHING, then close program, change back to present by changing automatic date and time button back to on in settings, and repeating again but this time choosing December 2nd 2013 instead of December 1st 2013 again. I've found that the $25,000 does not add in unless it's on a different date than the date chosen the previous time. That's just my experience. I've found that this trick resets itself every day. I've also found that sometimes starting the entire sequence from December 1st over will reset the trick as well. I don't know if there really is any rhyme or reason behind this, however I do receive $25,000 each time and it doesn't skip out unless I've already chosen that particular future date. To make the trick work, I close my game between each date change, future AND present.
In order to maximize on Simoleons: I have as many Sims as I can plant either beans or eggplant in the present and collect in the future. Sometimes eggplant turns into a monster, but it's worth it.
I've now reached a point where I do not need as many Simoleons as I do XP. I've now started making my sims do 24 hour activities to increase their diving, fishing, ghost hunting, or fashion designing. I've been able to up their hobby levels quite quickly by doing this.
When I first did the cheat for Simoleons, I also made the mistake of claiming my party boat prize and my competition prize in the future. I ran into the problem of having to wait thousands of hours for them to come around.
I have been able to fix my competitions, however my party boat is still not back to normal when I'm in present time. To fix the competition centre, I did this: I had a Sim start a competition in the future. I came back to the present and I used 16 of my LP to have the Sim
finish their competition IN THE PRESENT . This then restarted the competition clock to start from the end of that time. I'm now showing 15 hours instead of 7896 or something ridiculous. The first time I tried this, I chose only to end the competition by x-ing it out and not collecting my XP for it.
This did not fix my problem. You must use your LP to finish the competition. In order to not have that happen again, I have not started a new competition in the future and will therefore wait until the actual 15 hours has come in the present.
I have found that if you leave your Sims doing absolutely nothing while in the future and then returning back to the present, they will not lose any of their inspiration. Once in the present, I will then re-start them doing something productive, and will then return to the future and collect all XP along with $25,000 each time and with full inspiration again. I will then leave them all doing nothing, then return to the present, re-start all productive actions, and repeat.
When I first started playing a week ago with the old cheats, and only getting $10,000 Simoleons, I did have the problem occasionally of my Sims becoming completely uninspired, peeing their pants, and what not. I have not had this problem since the update and since I've been doing the cheat step by step as explained above.
I know this is quite extensive, but I had all these questions and was waiting for someone else to post something like this.
Now if only someone would answer the question as to how to fix my party boat hours.....