This handles a whole bunch of issues with people who have just one name (which I believe is high status in some cultures) and cultures where the family name is first and then the given name.
I have had very little issues with it - even though most customers expect first_name and last_name.
I had a police officer talk to me about my software and they were mucho impressed about how this naming system handles all the different name types. They say some of their system have issues all the time with some names.
Is it a perfect system? No, but it seems to be one of the better ones.