In addition, there's also the fact that you can't guarantee that your IP will never change. Unless you're big enough to have an IP block directly assigned to you that your ISP can't change, it might be switched out for any number of reasons. For that matter, you might switch ISPs or hosting companies. If you have a domain name, you just re-point it to the new location. If you have all your URLs done by IP, you have to convince everyone who links to you to update their links, including everyone who has you bookmarked. If you are big enough to have a firm hold in a block of IPs, why on earth would the cost of registering a domain even register in your budget?