Yeah, mandar and Dave, you CAN compare the $REMOTE_ADDR as a way of blocking an IP, but it is largely ineffective nowadays with DNS and NAT's.
DNS - Different IP every couple of days (depending on lease rate and config of server) OR if you are AOL, every time you log in. So that won't work.
NAT - Cable modems/High Speed. The NAT gives everyone on the same node the same IP while on the internet. So you could get a dozen guys with the same IP trying to visit your site that are getting banned.
As well (for the really paranoid) : www.anonymizer.com (and other sites like it) will re-route you through one of their servers so that your IP won't be available to the sites you visit.
As you can see, locking down one particular user is next to impossible if they have even the slightest knowledge of computers.
Until there is a way to pinpoint a computer (even that is no good with Public Comps at Colleges and Libraries) to a specific user, you don't have a lot of options.
Your best bet to stop a spammer, I think, is to make your message board "private" and force the email to be from a non-free email provider (like hotmail and mail) BUT that would take a lot of coding to build the array to block out all possible free email addresses.
Or just charge them a registration fee before they can post. That will stop your spammer cold (and most of your visitors).
Good luck.