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.
@planner like I said, there are specific reasons the client wants the IP to be associated with each post. I can see either argument, but I can't agree it doesn't make sense. I do think it's valuable to have as much information tied to the post level as possible for forensic reasons.