I'm shocked there's even a debate here over this feature. I'm glad somebody's already said, "WOW has it" so I don't have to. And no, no one wants the feature because WOW has it. We want it because it makes sense. Part of WOW's success, admit it or not, comes from their attention to implement these seemingly mundane convenience features.
And I'll echo the statement that the "security issue" is a non-issue. And finally, someone stating they stand by the "fact" that there's nothing wrong with the current system: that will never be a fact, so long as any one person wants something different. It can only be the popular opinion at its very best, and I don't currently believe that's the case (note that I didn't state as a fact).
In summary, this feature is far more convenient than the current method, as it's fewer steps for the user and this is especially noticeable in a game like COH/V where alts are likely so much more prolific than other games due to the robust character creation system.
And yes, I just brought this thread back from the dead.