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Are there any reasons to not replace HTTP GET request IP addresses and>proxy information with their SHA-512 secure hash prior to writing them>to permanent media?To expand a bit on Dan's answer.
For analytics we need raw IPs to do geo location, which is an important bit of information but other than that we really do not need raw IPs for anything else thus far. It is not unheard of us having to redo our pageview processing due to bugs on code or issues within the pipeline so we need to have raw data available for a certain buffer time.
Now, data needed for ops is a different matter having raw IPs is useful to troubleshoot issues that have to do with connection problems, DOS and others. Normally the work ops does troubleshooting issues with incoming traffic needs IPs to be available for some weeks but not months.