I can understand the "name in lights" thing for the newb. It's a big thrill to finally not only get a couple of kills on the same run, but to survive to land it as well. It's a mark of being "on your way" to being a better player in the game.
Personally I'd rather see who I killed or who killed me on MY front end instead on the world channel, and like Del said, have the ability to turn off my own "landing in lights" would be cool. Being able to turn everyones "landing in lights" wouldn't be cool, because it is another stepping stone for the newbs.