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I have no need to rename my characters seeing as it's just for Single Player. When Online, your Gamertag is displayed, so the feature is redundant.
This. I've never renamed any of my Borderlands characters. I might if I have to create mules(if the vault get's patched) or multiples of any of them. Like Maya. I have one that's reserved for one of my friends to co-op but I'd like to get a Maya to 50 on my own since he can't play much.