Here is my opinion....
If WHC were not such a reputable company I would be quite leery participating in an auction where there is no real way to see that someone is actually bidding. However, knowing the company I am comfortable with the process.
At CatchDrop I like knowing I am up against a specific bidder when the bidding gets hot and depending on previous history it gives me an idea of how high that bidder is willing to go to get a domain. This allows me to make the best educated decision.
Both styles have pros and cons for the bidders/participants and for me I like seeing who I am up against.
That said I prefer the most open system possible where a user is assigned or picks a name that cannot be changed at random. I want to make sure I am up against a genuine bidder and not a bot or something. Again I am confident that is not happening but as you can see both systems have pros and cons.
So lets chime in and see what everyone's idea of a perfect auction is.