Most guestbooks let the admin see the IP of the poster. This can be informative or not. If youre working for a company and you post from work, the IP may let the admin know the company you work for, thats about it. If youre posting from home, the IP will only let the admin see the ISP (BT, eircom, ntl etc) youre connected from.
When you say reply from, the admin normally has editing privileges to edit a post but usually not to post as a user. Then again, it depends on the chat site, guest book or forum as to what it lets it admins do.