i don't require it. a lot depends on your forum goals.
my visitors can see all but my private forums currently. later on, i will probably add some members-only areas, but for the most part, anybody can read all the threads.
i run a support forum, and search engine traffic is responsible for about 65% of all my visits. having that content out there is an important part of how the site grows, and consistent with my site mission of helping others. that's my main priorioty.
i encourage registration by showing registered members fewer ads throughout the site and encouraing them to register with the welcome headers hack.

i customize the message to my board's tone, and suggest the benefits of registering.
(spam is not an issue for us since we locked down the server security with mod security 2. no automated spammers are making it through anymore.)