Tomorrow (4/5) there will be a server restart. All names will be purged from TSW that have not been active in the last 6 months. If your name is purged, you will get a generic name and a free name reset item.

For name reservations, you get ONE. And that name MUST be on your account. So if there is a name you thought was interesting, when servers come up tomorrow, you can try to make a character with that name.

Also, since people can only reserve names on their account, you can horde as many names as you want. You just have to be ready for the open beta launch, as thats the time to try and claim those names. You only get one starting character slot, but since its f2p, you could make a couple accounts to save up some names ;).