SMH will require registration
At present it looks like they’re soft-launching with only some articles being redirected to the registration page and with an option to continue reading the article without registering then and there. If you do come across one such article, you are presented with the message ‘Soon you will need to register to read this article’.
Based upon an article I can remember reading (I think it was in an issue of WIRED magazine) this model gave NYT a fantastic advertising advantage which not only allowed them to pin-point geographic and demographic ad-serving but also gave them realistic page-hit statistics. For the average browser however, it’s just another freaking username & password to remember.