I've convinced a number of leisure travelers to rent from National becuase of the Emerald Aisle. They have told me that they will gladly pay a bit extra to avoid the long lines, preselected cars, and insurance hard sells leisure renters often complain about. The ability to select ones vehicle and often get a free upgrade is a very attractive offer.
I always ask for printed rental agreements, though the hang tag gives information about how police officers can contact National/Alamo/Enterprise if needed.
The vehicles I've rented have all had their registrations inside the glove compartment. The last one I looked at listed the owner as ERC Holdings-LAX, Tulsa, Oklahoma for a brand new California-plated vehicle I rented from LAX.
I'm not sure if other companies do it as frequently, but there are a number of reports of people choosing vehicles from Alamo and Enterprise instead, even if that location doesn't have shared locations. National also lets renters swap out vehicles at any National location if they are dissatisfied with the vehicle.