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yeah IP banning is far from perfect, trolls do use anonymous proxies etc. and dynamic configs are a problem however if you look into how dhcp works on your provider you probably get the same IP more than you realize. I know Vbulletin keeps a log of every IP you've ever posted from and when banning you have the option to ban all those IP's.

On my own sites I typically do not allow users that use anonymous proxies to connect much less sign up and post, people who use anonymous proxies have something to hide and I just don't deal with it. I've only banned a few people and in those rare instances I have banned entire IP blocks from even connecting to the site. It's a harsh approach but I have small dedicated communities that deal with some of my specific interests generally computer related. Nothing on the level of this site.

Hope that helps! :)