WordPress 1.5 is out!! Can't wait to switch to it. The list of features is unbelievably amazing.
Personally, I'm tired of all the comment spam. WP1.5 solves that by a simple blacklisting mechanism where you can shift users to a whitelist (so that the next comment they enter appears immediately), the rest are under moderation. If it is real spam, mark it as such and the next similar spam comment would be obliterated on arrival. Same goes for trackbacks (which I have currently disabled due to trackback spam). Simple, yet effective mechanism.