Whenever I go to clone a CentOS VM, I can expect that eth0 will be broken. There are plenty of articles on the web that give instructions on how to manually fix this. There also seems to be some confusion when you start reading forum posts on the same topic.
How boring!
Instead one can use this script which will fix up your CentOS VM Clone's eth0!
Note that it reboots your VM, however it is friendly enough to require you to enter 'y'.
Now of course the next step is for a startup script that detects a broken eth0 and run this for you automatically. I haven't done this yet. What can I say, I had to quit while I was ahead ;)