I'm in favor of a one-time complete name/race change at the time of 2.0's release. After that, no more.

Like FFXI before it, FFXIV is a game where you'll typically be playing only one character. As such, your reputation means a lot in this game. If someone ruins their own reputation by ripping off other players or something similar they should live with it, not hide behind new names/characters and be given the chance to do it over and over again.