Even on an extremely busy forum you shouldn't be getting dozens or hundreds per day, not if you properly manage your server. A big part of this is deny thing HTTP access from common server farm IP ranges. I have about major 300 server farms blocked from all over the world, and it knocks out 95% of the spammers.
Plus setup whitelist mod_rewrite rules in your .htaccess to give obvious non-browsers a 403 error code.
One of the forums I recently purchased didn't do any of this, and had a ton of daily spammer registrations. When I implemented the above it dropped to 1-2 per day. Over time as I've added more server farm IP ranges the number has dropped further.
Now, that being said, this is a great mod. I installed it and it caught an IP yesterday. I looked it up on projecthoneypot.org, sure enoug it was an active bad IP. I looked up the IP range, validated it was a server farm and added that range to my block list. This plug-in will help me find more server farms to block, especially the smaller farms, and that makes it very handy.
Also, I block all of China. In over 15 years of operating forums I don't believe I've seen a legitimate user China (just spammers, crawlers, scrapers, etc.).
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