What is the point of Email Verification anyway?

[Velocd]

I got to thinking, as I'm sitting here waiting for a music video download to complete, what is the real purpose of email verification? Its something I know alot of people dislike when joining forums because they have to wait for the email to be recieved before posting, and sometimes they even forget or ignore it. I mean, if you disabled it, not much would be different. So you restrict users from registering twice with the same account, what stops them from creating a new email and registering on that one? Nothing, ofcourse. Anyway, there is an IP checker out at these forums that'll help you regulate duplicate IPs and second accounts, so that pretty much renders this email verification useless. Unless there is another importance of it that I'm just plain missing. (oh, there is the mere fact of contacting the user and not being able to if they have a fake email, but why would someone register with a fake email..? its not too common)