We have studied the link between the kinetics of clustering and the phase behavior of dilute colloids with short range attractions of moderate strength. This was done by means of computer simulations and a theoretical kinetic model originally developed to deal with reversible colloidal aggregation. Three different regions of the phase diagram were accessed. For weak attractions, a gas phase of small clusters in equilibrium forms in the system. For intermediate attractions, the system undergoes liquid-gas separation, which is signatured by the formation of a few large droplike aggregates, a gas phase of small clusters, and an overall kinetics where a few seeds succeed in explosively growing at long times, after a lag time. Finally, for very strong attractions, fractal unbreakable clusters form and grow following DLCA-like (diffusion limited cluster aggregation) kinetics; liquid-gas separation is prevented by the strength of the bonds, which do not allow restructuration. Good qualitative and quantitative agreement is found between the dynamic simulations and the kinetic model in all the three regions.