There's nothing stopping Take Two from using fake names, or similar names (as far as I know.)
EA has even crossed the line and not been sued in the past for REALLY cutting it close in terms of player names. Some old geezers like me Remember the first versions of NBA LIVE in the latter years of the 16 Bit Genesis. (1995/96/97) EA had "easter eggs" programmed in where if you'd correctly spell the rookie or non NBA Players Assoc. member into the editor, his real pre-calculated stats would magicaly appear, and he'd appear as a free agent. You'd just have to assign him to the right team. Of course, due to the old technology, the faces were generic by default.
There used to be a old PC football game that skirted the rules by using nicknames (that were editable) to identify players. Like "Snake" for the QB of the 76 Raiders, "Sweetness" as a back for the 85 Bears. But it was nice in that it helped everyone know who was who in terms of editing.
Generic faces would have to be the norm though- but an editor could fix that if it had enough varied faces and hairstyles in the game. NFL Fever 2004 had an interesting system for identifying classic player numbers too. Every player had a jersey number 1 greater than his real number- so Marino was "14", Montana was "17" etc. It helped if you wanted to edit the numbers to be correct if an editor was in place, you'd just know to subtract 1 from the jersey number, then edit from there. If any future VC football game is forced to use "wrong numbers", this may be a good approach to help the editors.
PS: Bangpow is his own man, he posts what he wants without coordinating with me and vice-versa. We are usually very different on our game choices. I also OWN him in NFL 2k5