What security will I lose by using ssh with: -o StrictHostKeyChecking=no -o CheckHostIP=no ?

I have a script that connects automatically to dozens of linux boxen (that I control) on the internet using dsa/rsa keys. Many of these are on MTS DSL and so change their IP's frequently (often many times a week). They all have dynamic dns setup so I can always access them via a DNS domain name (rather than IP).

If I use the ssh defaults of StrictHostKeyChecking=ask and CheckHostIP=yes, it mostly works as expected, but sometimes my script will hang with ssh waiting for tty input with the usual:

The authenticity of host 'foo.com (141.162.215.81)' can't be established. Are you sure you want to continue connecting (yes/no)?

I don't mind this for new boxes where I haven't confirmed the fingerprint yet, but for existing boxes where the IP has changed, it sometimes gives me grief. I can't recall all the particular instances, but the one that just hit me was one of my MTS boxes cycled onto an IP that was previously used by a different box! Seems rather unlikely, but with DSL hanging up all the time, it's bound to happen. I see no way around this occurrence except to use the above -o options to disable all checks.

So what attacks am I really opening myseful up to with those settings? Is the worst case that a MitM captures my commands? Or is the worst case that they gain my password/key and access to the remote system?

What else?

It sure would be nice if I could, on my local box, install a key or something from each of the remote boxen and say that I never care about what IP it has at the moment, just check the key and be happy & secure.

For all scenarios assume local + remote boxes have not been compromised.

Thanks!