Actually, this particular spammer is all over the place right now - I've been reading up on them. Virulent and aggressive.
I might post this in the Code Critique at a later time but I'm posting the concept here.
Because I don't want to go to a formal authentication system I've come up with a soft-authentication idea. I'm still using the $_SESSIONS approach but I'm still not really sure if it's helping (but I haven't had any more comment spam since I put it in there).
There is a really popular blacklist file out there created by Jay Allen (just Google for it). I'm using this list. When a person submits their information we check their referrer info, message and link against the blacklist. If they are tagged as untrustworthy their note will need approval before showing on the site. If their note is tagged as trustworthy it will automatically appear in the comments. Both options can be reviewed later via the system. We'll probably send a message when an untrusted note appears to somebody.
It's basically an authentication system that attempts to validate a persons trustworthiness. I believe that $_SESSIONS help to make sure a real person is submitting the form as it is set only when they visit the page. I haven't seen anybody else quite do it this way so I thought I would post this for posterity.
We were getting a few per hour and as of earlier today, knock on wood, we've had zero. Plus, I can see in the stats that they are still knocking on the door.