One thing that needs to be considered when talking about registration is the number of people "passing through" who sometimes start an interesting thread or make a valid contribtution. These people may not want to register (at least until they get the feel of the place) and may decide to go to more "open" places.The question is: is it worth risking losing a number of good contributions simply because there a few people trying to spoil things for everybody?
Also, and I don't know on this one and it is not my problem but the time and effort involved in setting up such a system may be an issue.
Jon