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Some of the best ways to stop spam in WordPress are to use the built-in tools. In WordPress -> Options -> Discussion, set your blog to hold any comment for moderation if it contains more than 2 links. Also add words and ip addresses to the moderation list - any comments containing these words or coming from these ip addresses will be held for moderation.

Be sure to set your WordPress installation to email you whenever a comment is held for moderation - that way you can ensure the comment is published quickly.

Use the Blacklist very carefully - any comments containing words added to this list are automatically deleted - no notification to anyone, gone, good luck, good night - no way back for that comment. Having said that, I use this list extensively on my blog to ensure I don't get too many moderation notifications.

I also make use of my .htaccess file to stop spammers getting near my blog - this is something you want to be very careful about - a misconfigured .htaccess file will take your entire blog offline. For more on this see http://www.tomrafteryit.net/comment-spam-plugins-no-longer-required/