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> tolerate the spam and stalking

It's absurd that you would tolerate that just so, in the hypothetical case that you need to approach ICANN with a dispute, they know you are the owner. Having your full name, contact information and address completely up for display is not something most people want. I'm sure there are other things you can do if you couldn't access your account to change the owner information back, like show your proof of purchase from the registrar.

I think there's a startup opportunity here.

I'm not intimately familiar with the laws involved, but it seems like a fairly trivial problem to build a business around Whois masking (done right). Provide the same service as WhoisGuard, but explicitly say in your contract that your customer retains all ownership rights to the website.

(And provide a nicer UI than Namecheap does for such things...)