Randy, are you trying to get over 30 posts so you can lose that "junior member" label too?
I vote for _no_ "elite" levels. This is a pretty democratic place. People get status for the value or interest of their posts, not (except for a little friendly competition) for their quantity. I don't think we need status differentials. The reasons airlines have elite levels don't apply here.
As for luggage tags, etc. - a great idea, but I think anyone who's interested enough in FlyerTalk to want to advertise it publicly ought to be able to get them. A free set after some number of posts would be a nice touch without creating status levels. Anyone else should be able to get them at a price, perhaps after showing some minimal level of participation.
Regarding what the current levels are called: I don't like "junior member" since it sounds derogatory, though it does have the (usually) beneficial effect of encouraging people to make their first 30 posts quickly! How about "new member?"