Yep, it looks good. It will definitely cut down on bot registrations, but will not stop human spammers. IP bans and post deletions will take care of those.
I thought this happened, when you submit the form, it takes you to the home page, logged in, but unable to post until your account has been verified...
With the default settings yes. But if you have "Registration type: Admin approval" enabled then you get this strange behaviour.
