Perceive cheat's terrible anguish (9)
I believe the answer is:
heartache
'anguish' is the definition.
(I've seen this before)
'perceive cheat's terrible' is the wordplay.
'perceive' becomes 'hear' (hearing is a kind of perceiving).
'terrible' indicates an anagram.
'cheat' with letters rearranged gives 'tache'.
'hear'+'tache'='HEARTACHE'
(Other definitions for heartache that I've seen before include "Grief" , "it gives rise to anguish" , "expression of sorrow" , "Emotional distress" , "Agony of Love" .)