I’ve decided to start using Akismet to deal with comment and traceback spam. It seems to do a pretty thorough job. I’ve resisted all this time, because I’ve never met a spam filter that didn’t flag legit stuff, and allow crap on a fairly regular basis. But the spam has just gotten to be too much, and Akismet seems to do a pretty decent job.
Also, new commenters will now be instantly approved if your comment doesn’t get flagged as spam.