I have to look through the source code of other IRC server implementations regularly when checking for cross-server compatibility and looking through ngircd's source code is always a pleasure. Its extremely well written and easy to follow unlike the irc2-based IRC server implementations (UnrealIRCd, etc) which usually are a pain to find out what they're even doing.
IP spoofing is possible on ratbox and charybdis; host cloaking is possible on charybdis but I would not depend on it. Personally I believe IP addresses are public information, but for those who don't agree with me, it's super easy to spoof hosts. Not to mention, both ratbox and charybdis support alternate I:lines (connection classes) for bouncers and the like.