Well, I read everyone's opinion on the topic and it has changed my opinion.
1.) I think we should have the ban feature ready to go if we start to have a problem
2.) Have /ignore available now per user.
3.) I am not sure if you have it implemented, but make sure you limit the amount of text people can enter to say 200 characters. This will prevent some buffer overflows. You might also want to do a security audit. I would be happy to help you with this.
4.) If someone comes into the chatterbox we can protest its misuse by explaining what the person is doing wrong and then everyone refusing to talk until the person apologizes or leaves.

Ergowolf
Does code make a sound if no one is there to type it?