How I imagine titles in Diablo 3

There's apparently already titles in the game's code, but they're unused. Personally, I dislike the idea that they're tied to player level. Most people spend the most time at level 60, so the system should reflect that. Also, I think the tone of most of those titles is off. We are not royalty, we are conquerors.

With that in mind, here's how I see titles working in D3: Every once in a while, a NPC spawns in town. He has a quest for you to find and kill a unique monster. When you do, you return to him and he suggests a name for you based on the monster you fought and the way you killed it. Like "windwraith" if you killed a unique ghost with whirlwind, or "goresmith" if you used hammer of the ancients on a unique zombie. You can choose whether you want to use that title or not, but only one title is generated per quest. Accepting a new title overwrites your old title.

Not only does this encourage build variety, but it's a fun way to spice up farming into the end game that isn't tied with xp or "progression".

What do you guys think?