I think you should. Consider a few scenarios:

• My wife and I share a router, which shares an Internet connection. That means that while we are two unique users, we will appear to the outside world to have the same IP address.
• Consider users of larger ISPs such as AOL, where often all users within a particular region will share the same IP address from the perspective of the outside world. If you allow only one registration per IP address, you'll block a lot of other people.
• Consider dialup users, who get a different IP address every time they dial in to their ISP. That's a whole different problem. Here, the same person could register, hang up, dial in again, and re-register with his new IP. Oh, and guess what. The next time another user from that ISP dials in and gets an IP already used by the first registrant, he will be denied registration access! Two problems in one.

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