Re: do you get to create your own name or choose one
Actually guys, its still goes by a title, I'll fetch the interview for you.
But basically you still buy titles, but this time you buy them from the town crier and not a title vendor.
Edit: this is an old blog entry
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On the topic of Hero Titles
Published Thursday, December 06, 2007 2:25 PM by
Sam
You will probably remember our
community call from a couple of weeks ago, where we asked you all politely to Insult our Hero. After having read well over 8,000 suggestions we really had a lot to work with... and then a couple of months ago we posted our other community call, which was the Hero Title Competition.
One of the biggest questions that came up is actually about how you as a player can achieve these titles. After having wandered upstairs and talked to a designer on the team I got it pretty much nailed down. It seems like the Hero Title system in Fable 2 is going to be subtly different from the system in the original Fable. You will still have to
pay for your title but instead of visiting the Hero Vendor NPC, this time it's the Town Crier who can help you with this. But instead of having pretty much any title available at any given time, it depends completely on how you play the game. Some titles will be available from the beginning but these are the basic ones. The more obscure titles (like Lionheart to give one example) will need to be unlocked, either by doing a (series of) quest(s) or by doing other things that I can't elaborate on (as it would spoil too many game features we haven't mentioned yet). In the original Fable there were around 19 titles available (if my memory serves me right), in Fable 2 we will have more than 20 titles.

Just as a reminder, the winning Hero Title (as voted for by the public) was Lionheart - as submitted by Kate Morris.
Next week I'll be spending most of my time in London, because the first voice recording sessions are taking place! Just the Artificial Intelligence lines alone are already standing at 35,000 lines. To compare, Fable 1 'only' had 12,000 AI lines! There are going to be more villager voices and as I said, next week we'll be recording the first 4,000 AI lines. Plus, we have got some top talent doing the voice acting for key characters in Fable 2, sadly enough (for you) the powers-that-be won't allow me to mention their names (goes to show just
how big they are). But I'm sure I can get some footage next week, to be included in a future Lionhead Video Diary...

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find link here:
Fable 2 Development : On the topic of Hero Titles