Whois lookup: the registrants name, address and telelphone number out there??

I recently did a whois lookup on a site and was shocked about how much information about the registrant is there. Name, address, email address and telephone number.

Does everyone fill those fields in? Do you have to? Can you put in a name of john smith, an address of 123 smith street, an email address of john@aol.com and a telephone number of 212-555-1212? Or are there good reasons why you really should have your true contact info in there?

One other question: I notice that the whois record has space for tons of name servers, but the typical registration process at a place like dyndns.org only allows you to specify 5 name servers. Does the number of name servers impact how quickly users will be able to resolve names to ip addresses, and if so is it possible at places like dyndns.org to specify more than the number of name servers they have space for?