This has been one of the features that I have been dying to hear the details about and so far it sounds like a REALLY cool idea. I personally hope they limit the rewards to just the titles because I don't think it will be as fun for people if they feel like they are forced to do it. It seems like a good tool for people to try out and learn new specs, and also for the higher skilled players to see just how good they really are at their main specs.
I'm excited to walk around as, "Drooden, The Proven Healer" Well... that's IF I can prove myself. haha
What does everyone else think about it so far?