Crytek, there are some obvious improvements that have to be made. The Events.xml is a clear example. However, why do your all your own anti cheating? Why not let the folks at PunkBuster do this for you?

Delegate. In the end, there is no be all end all for cheating, but it can be a huge improvement to what it is now. Also get RCON working, this is essentially a huge anti cheating tool and allows admin's to ban suspicious players.