The majority of L3 info a L2 switch will use is communication w/ its management interface. There are other instances of non-management L3 traffic such as IGMP snooping when a L2 device will peek into a L3 packet; but mostly they deal strictly w/ L2 frames.
What does this mean? You can create an IP access list for telnet as well as SNMP (I believe). This won't help you lock down users though.
Port security is mostly to prevent unknown systems from gaining network access and yes it is based on the number of MAC addresses.
maybe you can just break the fingers of anyone that plugs into your network w/out a valid IP?
This L3 port security could be a nice feature down the road.