For a single channel it should be sufficient, but for bots on a *large* scale, a notable downside of mIRC/MSL is it's single-theadedness.
Imho truly "reliable" protection requires a dedicated system in any way (be it nix or win), and if the IRC network provides services and modes (like UnrealIRCs +f), they're among the most stable "free channel protecting bots" you can get.