I use the BB plugin on my blog and ever since its use it has managed to keep most of the spam away. Akismet does the rest for me. If things turn as ugly for me as some of the users here, then I will have to check out wp spam free (I have heard that it is the “ultimate” solution for all types of spam)
@datapharmer, would you mind elaborating on how you used the .htaccess file to block spam from India? I am sure India is not the only country where the bulk of spam is coming from (there is China, Turkey and Russia to consider too), but I would love to try out your method and see.
I was not aware of the security hole. Has it been fixed now?