I don't see why another custom rank is needed. Admins and Site Staff are self explainatory. Cid's Knights are mods. These are useful to the users of the boards so they know who is in charge and can talk to them and bring up issues and questions when needed. Recognized members show that they are mature and can handle the day to day operations of their own threads. Why would you need anything beyond that? All of the ranks right now serve a purpose, yet if you add another rank it will just be a name. And like it has been mentioned before, all it does it create an oldie/newbie atmosphere. It would be no different than using your post count to flaunt seniority. So I see no point in another rank. Plus if you have too many ranks the idea of a rank is pretty pointless as no one stands out.
EDIT: And Akuma, if you want your "Veteran" rank, wait 8 months and then you'll get your extra line of text above your avatar. In essence that's what those are for, to show the people have been around here for a while.
このフォルムは日本語じゃないよ 
