I don't see how those of you that were banned can pretend like you did "the right thing". You didn't "turn yourselves in", you went and stirred up a big crapfest up on the forums. "Hey, look at us! We cheated! Jitspoe's cheat detection sucks! Let's all go play some other game!" Of the 10-20 people that were using that cheat not a single one of them came forward to me directly and provided the cheat and info about how it was distributed (until they were forced to later if they wanted a chance to be unbanned, even then, some of them still haven't contacted me).
Also, I don't have a magic "ban" button. Banning people probably takes an average of 40 minutes (scanning logs, getting appropriate IP's and hardware ID's, and making my best attempt not to ban other players that might have the same hardware), and often takes a lot longer when the accounts are older and have been used on a number of computers (as it did with many of these cases). When I only have a couple of hours of free time per day to dedicate to Paintball2, that's days, if not weeks, worth of work when banning a large number of players, not to mention all of the fallout on the forums.