While this might be answer to some pet owners who miss their beloved pet and if you have the money and this is like having them back to you, I say go for it.
For me though, it just wouldn't be the same. All the scientific theories and research aside, i don't think a love one can be replaced animal or otherwise. Although you can get a new beginning with a clone, they can't take off where the other left off, so to speak. You start over with raising, nurturing and caring for your loved one which defines how they will mature into the pet you love. I love my boys more than words can say, but they are their own personality and I just couldn't or wouldn't replace that.