In the past I've done just fine with just changing my address on the Manage Your Kindle page to the country of choice and buying the book. My Kindle has 3 different home - US, UK and Canada and I've changed back and forth several times to get availability and/or more favorable pricing.
I don't buy several books all at once though and I've never tried it with magazines. From what I've seen people who get the email letter usually seem to get caught because they're buying 4 or 5 books at once.
I've seen people report that their account was temporarily frozen for a day or so but then they just changed their address back to match their IP location and the hold would go away and they are able to buy again. I've never seen anybody report that Amazon actually terminated their entire account.
Blech. The circles people run around in trying to get the privilege of buying these books - heh?