Yes Ed, you're correct - you will loose a lot of flexibility. Personally I don't worry about it, but if I did then I might do one of 2 things:
1. Enable DHCP and relax my security for the affected period (weekend), or
2. Go to the trouble of getting my visitor's MAC address and assigning them a hard IP address and so on.
One thing to remember is that if you enable DHCP and allow visitors in, so to speak, you are also allowing passers by in as well. So where one draws the line should be considered with care.
Best regards,
Radar