I didn't care about the old titles and I don't care about the new titles or kill/duel stats. To me both are equally meaningless.
Since it's absolutely impossible to have any kind of stat that actually reflects competence, skill or whatever you want to call it, fairly across all professions or playstyles, I wouldn't mind one bit if everything in that regard would be completely removed for good.
I agree that the old system added a bit more excitement sometimes when there were actually a few people in your title range around. Being constantly searching for someone with one of three specific titles (if you were into that kind of thing) seemed at least as retarded to me as a completely meaningless counter does now, though.
Maybe it's just because I've never been a fan of the lolgnak kind of pvp, but get huge enjoyment out of close battles that can go either way at any point, whether I win or lose it in the end. I don't think you can measure that in stats.
Well, I guess what I wrote here is really just a tl;dr version of the quote in my sig...