Sounds kind of like the "Miserable Users" hack, but tweaked / partially ripped?
Is the forum really busy (i.e. thousands of people online at a time)? If so, they might use a lower load-level for "guests" in order to keep performance okay for registered memebers.
However, with all the initial processing that has to be done just to determine if they are indeed a guest, finishing it out to display a page I don't think would be that much more CPU power.
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