First, a little background: It is no secret that I am implementing an auth+auth system for CodeIgniter, and so far I\'m winning (so to speak). But I\'ve run into a pretty no
I have to ask whether you've done cost-benefit analysis of this problem; it sounds like you're trying to protect yourself from an attacker who has enough web presence to guess a number of passwords, sending maybe 3-5 requests per IP (since you've dismissed IP throttling). How much (roughly) would that kind of attack cost? Is it more expensive than the value of the accounts you're trying to protect? How many gargantuan botnets want what you've got?
The answer might be no -- but if it is, I hope you're getting help from a security professional of some sort; programming skill (and StackOverflow score) do not correlate strongly to security know-how.