I'm a bit at a loss to understand where you are coming from with that derisive statement. The "mystical and magical" solution seems more like using CloudFlare rather than developing our own supportable Module that has it's own database capabilities that it can build and refer to in the event of an outage or change in service type from any external source.
But sure, I guess we can just close our eyes and let somebody else do it for us and not bother with asking how or why. Or having ANY control over when it decides to false-positive block somebody.
Okay, that last part is a bit of a stretch. They do have a control panel that is pretty nice for what they offer on their Free Services side. And none of it is anything that we can't do or have for ourselves.
It's been quite a long while since it was first mentioned publicly you were working on a solution of your own. A time at which any other readily available solution(s) could have been used to lessen the impact of spammers and anything else malicious. If you really feel like reinventing the wheel and using the solution you're cooking up, please do but why are you not making use of temporary solutions that may or may not be just as effective at stopping spammers?
And least we forget, any external service beats local service when it comes to stopping malicious traffic. Why? Because in ideal scenario such traffic never reaches the server that is hosting actual content. In many cases CF has managed to reduce http traffic of their customers by several times. CF is efficient in blocking denial of service attacks as well. As the server serves far fewer http requests, it can focus on serving real visitors all that much quicker. Not to mention that CF also works as CDN, reducing loading times of static content which should help visitors from other continents quite a bit all the while reducing bandwidth usage of the server. CF also features many tools, one of which is support for Google Analytics. Since it works for all http traffic on specified domains, it is way more accurate than it would be if you just add the code to select few pages such as HLP forums and mainpage. With CF you'd be able to monitor all hosted project sites too without editing their files and so on. Available tools doesn't end there, but you should be able to research it yourself should you feel inclined to do so.
Can your module do that? It very much sounds like it's SMF module, which does jack squat for the wiki and any other sites being served on this server. If I am mistaken and it works for the whole server, awesome but you still could make use of what's available until it is done.