A lot of the cool names I think of are too long. Many of the marginal names are, too:
Man With No Name
Noneya Bidness
Vault Dweller
Sgt. Slaughter
Corporal Punishment
Major Asshole
The Exterminator
Max Brockitanski (Mad Max)
Clint Eastwood (j/k)
Sure, those are bad examples off the top of my head, but it's fun to mix it up and play with a name that has first & last name in it, or one that's longer and silly or just cool. Eleven characters? C'mon ... most of the people in the world have longer names than that (first and last).
However, no matter how long you make it, someone's sure to complain that their name won't fit. "Wanderer of the Wastes who Kills all Slavers on Sight and Eats their Bones" - sorry man, you're going to have to shorten it somehow! heh
So again, seems like something neat to have but low on the priority list.
m-