Sadly, an IP filter is no guarantee against getting hit with a copyright notice. I've seen a lot of complaints from people over the years saying that they got caught despite using an IP blocker.
It's a great tool for blocking those malicious fake-data spewers that corrupt torrent downloads and waste a person's time and bandwidth, but I think that their usefulness as a "anonymization" tool on public torrents is only marginal at best. The anti-P2P enforcers have known about IP blocklists for years and taken steps to bypass them by constantly getting new address blocks to operate under -- even leasing servers in the same data centers used by major seedbox providers.
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