"I'm recently getting 'serious' about my genealogical research and have just started reading your blog. I find it very entertaining and helpful. Because of you, I have ordered 'Evidence Explained!' and will endeavor to be as accurate as possible when citing my sources!
I do add Alternate Names for different names used in records, but pick the name (draw a Conclusion) that I think is correct for the "Name" field. Then I write a Name Note for the Name fact describing the variations and why I chose the Name I did for the person in my database.
In the Person notes, or the record event Notes (e.g., a census Event Note), I transcribe the names exactly as they were written on the record. If the name was indexed incorrectly by the data provider, I would note that also. In the Note, I explain why you think the record pertains to your family.
For information in any record that I know (from personal knowledge, or from an evaluation of all evidence) to be false or wrong, I would discuss it in the Event Notes, or the Person Note, or the Research Note, so that others who use/see/find my database understand what I've found, how I analyzed it, and the evidence that drew me to a conclusion.