Keep Wifi wide open (but obviously lock down the administration interface)
Set a DHCP range of say, 100 - 150
Set static IP's for all your known devices via mac address outside that range
ARP Poison the 100-150 range
Profit???
As a social engineer, I like to have fun. Oh what's that? google.com is resolving to kittenwar.com? Oh, yahoo is too? HEAVENS TO MERGATROID! WHY IS EVERY IMAGE ON THIS PAGE BEING SHOWN AS TUBGIRL? I THINK I'M GONNA VOM!
But I digress. It's THEIR OWN fault if they connect to my wireless network without asking me first.
As a side note, I love it when the "hobbyist" computer know-it-alls when they tell me they have a wep or wpa protected network and no one is getting in. The dejected look when I gain access to their network is more delicious than the soul of a baby seal...