Multiboxing

I just kinda discovered this and got interested, but I would like some clarification from some Blizzard posters about the rules over multiboxing.

Is it ok to have three WoW accounts running on the one single PC, played by the one single owner of those three accounts?
Is it ok to use Keyclone or any other software to assist in relaying keys to the other clients while monitoring the "main" one and controlling them through that?