My friends and I tried doing something like this after a pub bet earlier this year and this has helped me decide that I will in no way, not now, not in the foreseeable future take part in this because every morning I woke up looked in the mirror I died a little inside and by the end of the month it was just a question of weather I used the razor on my facefuzz or my wrists first.
(speaking of name changing, if any friendly admin could capitalize the 'a' in my name, that would be super)