The only thing I really hate about this is that you create the account through the login. I've already made a post on your forums regarding the issue, but I believe it should be addressed here as well. Disallow it. Why? Because if you forget your password by any chance, or make one typo, you're making a new account you won't be using.
Because of this, I'm not allowed to log in through the same IP anymore.
Because of this, I'm not allowed to log in through the same IP anymore.