keep in mind people have done silly things and have reverse resolve point to localhost. I can't remember any who did this (as I've run across some IP addresses who reverse-resolve to localhost), but it is a pretty evil thing to do. It's definitely possible. However it's clearly not legitimate.
I'd be on a vigilante to make sure reverse(IP)=forward(IP). That's the way it should be, but people decide to do funny things with DNS and thus break things...