[pmstudios]

They may be useless fields most of the time, but other times there may be family members or friends who share cards, so the name of the cardholder will be different from the customer actually registering.

I'm not sure about which processor you're using, but I believe the name issue was fixed in a later version. You could always edit the processor file you use (example: payment/cc_verisign.php) and make sure the FIRSTNAME and LASTNAME use b_firstname and b_lastname by default.

You can disable profile fields or set those you don't require through General Settings > User Profile Options (from the quick tools dialog up top)