Note that for people that want to login to view the tourney from a separate account, the development version of WinBoard would be a very serious option. I don't believe this version to be unreliable; it is just that it does not exist long enough for all the new features to undergo serious testing, so we cannot be 100% sure. So I an imagine that for running your engine, you would prefer a version that has been less changed and longer tested.
But the latest development version (4.20100216 at
http://hgm.nubati.net/seekgraph.zip ) has improved chat features that could make it really attractive for the less critical purpose of observing games and chatting:
In addition to the ICS console window, you can now have upto 5 Chat Windows open, each dedicated to a single person (handle), a channel, shouts (collecting all messages from shouts, c-shouts, t-shouts and the it command (-->)) and whispers. (Use 'shouts' or 'whispers' as Chat-partner names to get the latter.) You can open a new Chat Windows by simply right-clicking on a handle in the console window. (Provided you have added the item "Open Chat Box (name),chat,1,0" to your ICS menu, which is in the factory settings, but these are not used if you use a pre-existing ini file!)
The Chat Windows now have buttons in them that can bring any other Chat Window to the foreground, like having a tabbed window in case you leave them al stacked. But you can also unstack them, or some of them, to have the most important chats always in view. The color of the buttons (white / grey) warns you in which channels there has been activity.
By running with the -autoKibitz option (even though you are not in zippy mode, and no engine is loaded), you can use the Engine-Output window to capture the kibitz of the engines in the game you are observing. And, doing that, you will have the engine depth/score info included in the PGN file you would save.
So every reason to try it out. One warning: you should NOT put the executable in the same folder as WinBoard 4.4.CCT12 or 4.4.2 (unless you are ready to abandon the latter), as the winboard.ini files are not compatible. (There are new options there, which the older versions do not understand.)