Well, for the casual browser, they'll certainly stick around longer if they aren't pestered by a registration screen on every page. Speaking of which, I like the "consolidated" form that has everying in one section. Do you have any object to sharing that part of your template?
Last but not least, the registration form, as much as I like short and concise, does have a lot of fields staring at you. I wonder if you lengthened the Username field and moved the fields around a bit you wouldn't get more takers on the registrations. Just my two cents.