We shall see, but nobody can say that it don't smell fishy as hell...

If you got in early enough and got all the money back that you invested and don't plan to invest any more than your profits, then your risk has been reduced to nothing. If everyone did that then it would obviously not be able to stay around for long if it was a scam, but I am going to bet that most people are not going to reinvest only their profits.

Getting into the beginning of a ponzi scheme and making out like a bandit with the full knowledge that you could be participating in the theft of others money even though you don't know for sure has some ethical questions.

It is a gamble no matter what way you look at it, but don't gamble thinking that if it is a scam and you get out soon enough that you will have come out smelling rosey. You will have participated in the theft of others, and the idea of that just doesn't sound ethical to me. Even though you can't know for sure until after the fact, it is still something to think about.