SharePoint 2007: Changing the required Title field in SharePoint Lists

Have you ever been flustered and frustrated about the fact that you have to always use the Title in a SharePoint List item?!Looks like this can be changed from the Item Site Content Type (Site Actions > Site Settings > Site Content > Site Content Types > (List Content Types) > Item > Title and then change to Optional / Hidden or what you require. I honestly don't know the consequnces of changing