It looks fine to me.
I do like the idea of the ebook section being hidden though. I'm sure a lot or possibly even most of our traffic is because of the ebooks, which traffic doesn't really matter since we have no ads or monetizing stuff. Something like members only and after 20 posts or something.
But that is digression to the topic. The policy looks fine for a community like this. I also like the idea of hashing the IPs. Full SSL would e nice too, but I know the current framework has some bugs and Alpha *should fix it.
Anyway, yeah.