If your problem is Spam Bots, you should use CAPTCHA: http://www.google.com/recaptcha This will help you against most of them.
Your solution is good, if you want to prevent random user using the site, the problems that it solves is that user must put some effort in to it.
Also if you want to save some bandwidth, you can realy go in to email checking: http://www.serviceobjects.com/blog/hot-topics/email-validation-whitepaper/
Hope it helps