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Of course, anyone who wanted to bad enough could get around pretty much any ban.IP bans are pretty futile really. Most people at home have a lease on an IP, and when that expires, (depends on ISP but rarely more then 24 hours), they will get a new IP from their allocated DHCP pool. What you have then done is placed an IP ban on some random address that could be picked up by someone totally blameless.
Another issue is that if you want, and know how, you can appear to post every message from a different address - it is easy to do.
Sometimes, you can hit back though. On another board I mod, we had a crowd of spammers come along and we traced the IP to their school. Turned out they were using the machines in their computer labs. We contacted the school and past the details on of the user names, (which are often a giveaway if you know the people concerned), times, (which class was in the room), etc.. We had a formal apology arrive sometime later, not from the school itself, but from the IT chief of the area covering that, and other schools.