Ars Tech has a good article on the FBI's practice of catching child pornography consumers. It has a great title, too: "The hidden side of your soul".
The phishing text is well done:
Welcome to the hidden side of yur soul, where you view the yung and innocent...
We move around when we have to... congratulations for finding us. Yur old password won't work, so get the new one and you are IN!!!"
Be sure to read through to the end, where the author notes just how much easier it is to set up a honeypot these days.