Lion,
Yea, ip-sorter is an application that uses Maxmind's database. In terms of accuracy, the data is the same, our product if you like is a layer that sits on top of Maxmind's data.
It makes it much easier (in my unbiased opinion

) to administrate a set of rules for routing your traffic.
Maxmind out of the box is the data, and a set of APIs to access it. IP-Sorter takes it the stage forward, and implements the data in a product that webmaster (and indeed programmer) can use. Its a CGI based application coded 100% in C, aimed at high performance loads.
In addition to providing the user with a GUI to admin the routing, and a high performance "out" .cgi program, ip-sorter provides raw/unique stats on the rules created. We also provide a compiled shell script that intermediate level programmers will find easy to use in their own scripts (
http://www.ip-sorter.com/tour/extend.htm).
You can use the free database with our product, at a reduced price of $200. When you purchase a 'full' ip-sorter license @ $300, you are getting the $150/year db from Maxmind, and our software for $150.
We work with Maxmind, not really competing against them - you'll see if you check the ChangeLog in the C API several bug fixes / performance improvements made by a guy called Chris Gibbs - one of the programmers who wrote ip-sorter.
I think that $150 extra on the premium database for our product is a good price, even if you are already an accomplished C programmer.
If you wanna hit me up richard AT ip-sorter or icq 41012160 i'll give you access to the online demo and you can play about with it yourself (open to all).
Richard.