When I installed the MT CAPTCHA plugin I couldn't get it to work with MT-Blacklist so I disabled MT Blacklist. Not a problem I thought. The CAPTCHA should stop the spam for now.
I forgot about the trackback spam that MT Blacklist has quietly been killing for me. Not as big a problem as comment spam (in terms of numbers any way) but still an issue. So, until I can get MT CAPTCHA and MT Blacklist to play nicely together I have closed trackbacks on all entires over 5 days old.
I used an excellent little script called MT-Close2. MT-Close2 allows you to close comments and/or trackbacks (most scripts either just do comments or both) on posts over a certain age. You can also target just those posts with no existing comment (leaving popular posts open) or pick out certain categories. And, most importantly, you can reverse the action, which I intend to do once I've sorted out CAPTCHA and Blacklist.