Not being in the beta, therefore not bound by the NDA, I have seen the character creator, and have to admit that I am profoundly disappointed with it.
This is just one of a few areas that SW:TOR feels like a step backward from some of the things you expect in modern MMOs. Even the naming restrictions are pretty archaic. That's not to say I couldn't create a half-decent character, but the creator is definitely closer to WoW than STO and certainly nowhere near CoX or CO.
That's not to say it's a bad game, just... disappointing in a few "less important" areas... but areas that will be niggling annoyances to people who love to craft their character (and names) with great care. I guess the one good side is that each class has a distinct voice for each gender (e.g. the Inquisitor has a different voice than the Warrior).
There are a few areas like this that provide enough (at least in my personal opinion) archaic and outdated "weaknesses" that they seemed to have torn from previous MMOs "just because" SW:TOR is an MMO. I think some of the MMOs coming out shortly after SW:TOR that are really working to truly revolutionize the genre are going to be able to capitalize on these to some extent.