The Tag Cloud template tag does more than just generate a tag cloud in WordPress 2.3. You can easily configure it to generate a unordered list which can look like any other unordered date or archive list. Just configure it as follows:
You will get an unordered list that you can style using a class of wp-tag-cloud. I use it on my archives.php page so when you click on the archives, you get a date based list, category based list and a list of tags used.