Outside of a few select titles for special persons on the forum (like admins, mods, Gary etc.) the titles mean very little. Join date in combination with post count already gives an indication about who's new or not. Outside of that, the title should not have any influence on the content of discussion and therefore putting more effort into making "special" titles only detracts from the actual discussion IMO.
As if people are going to (or should) view other people's arguments in different light just because they have a different title "Oh this guy has a Super-Duper Member title so surely whatever he says is better than the New Member!"
It creates an unofficial hierarchy that can backfire with regards to overall quality. Plus, it can add confusion about the meaning of the title. "This person is a Super moderator, but what's the difference between that and a Moderator?"
In short, the way it is now is fine with me. Just my opinion of course.