(Your previous version was: "Warning: By submitting edits to Wikipedia, your IP address, which is personally-identifiable information, will be associated with your edit. If you are not logged in, your IP address will be permanently and publically associated with your edits. If you are logged in, your IP address will not be publically displayed, however it will be kept for around 2 weeks.")
My suggested wording is:
All edits to Wikipedia are recorded and visible, with the [[IPaddress]] they are from. Your IP address is publicly visible on edits where you are not [[Special:Userlogin|logged in]]. See [[wikipedia:privacy policy|privacy policy]].
Even shorter:
Your [[IP address]] will be logged when you submit. If you are not [[Special:Userlogin|logged in]], it will be shown publicly. See [[Wikipedia:Privacy policy|privacy policy]].
Timwi