I have used many different forum software ... i find that vBulletin and SMF has the best spam fighting tools ... on the other hand, vBulletin and SMF are widely used and spam bots target them heavily, so if you don't have the right spam blockers installed you'll be getting spam accounts by the 100's
I'm now using SMF and Spam is basically down to 0 due to a few mods im using...
Built in CAPTCHA [Works, but only seems to annoy actual people than stopping bots]
Stop Forum Spam [This stops 80% of spammers, as it checks the email and username with the StopForumSpam.com database]
Anti Bot: Are You Human/Bot? [Soon bots will learn how to bypass this, but for now it's working]
All and all, bots get smarter everyday, and the human bots seem to be on the rise as well

we just have to monitor and constantly use the best and latest spam-stoppers.