Honeypots are definitly a good idea !
- It's a good first line defense
(catching the probes/attacks on fake SAFE services)
- It's very informative, you can even learn from script kiddies sometimes
- <extremist mode> It's sometimes good to respond to trasher, see it as an "educative task" </extremist mode> ;-)
Although I would suggest you to avoid setting those kind of things on someone else
Now, to answer to your last question :
GO ! Honeypots are fun stuff to play with for anybody interested in security.
I'm planning to setup one as soon as I manage to get a permanent Net access.
Furthermore, if you do it, I'll be very interesting to read your posts/msg about what interesting stuff you found in your logs, what problem you faced, trick your learns...
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