I think you're misunderstanding what is going on...
Reject_Unknown_Ips = True
That enables the EXACT feature you are looking for. The fact that you can connect to the server and receive a response means your IP address matches at least one user hostmask.
However, the '530 Login failed: Your IP/hostname is not authorized.' messages means your current ident/host/ip doesn't match any hostmask for THAT USER. Use 'site uinfo rusher' to view your hostmasks and you'll see that nothing matches. It should be pointed out that you ONLY get that particular error message if you correctly entered a valid user/pass. If you had the password wrong you'd get a generic login failed error.
You can also look into logs/error.log to see more info. It should show your current ident IP/host used to test hostmasks against to verify things.
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