Proctecting Real Identity

I want to setup my site so that member's content is available for viewing by anyone by default, their real names/contact info are hidden from the public and other members by default unless they wish to show this information.

Does anyone have any suggestions...their best/preferred solution for this?

Thanks

I think I figured out how I'm gonna roll here....

Perhaps after 7.1 comes out I may do some documenting and share something here to help noobs...

There's so many ways to do what you want here, and seems every time I mess with it, I get this overwhelmed frustration feeling going on.